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Pratap invested a certain sum of money in a simple interest bond whose value grew to Rs 300 at the end of 3 years and to Rs 400 at the end of another 5 years. What was the rate of interest in which he invested his sum?
  • a)
    12.5%
  • b)
    6.67%
  • c)
    6.25%
  • d)
    8.33%
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Pratap invested a certain sum of money in a simple interest bond whose...
Initial amount invested = Rs X
Therefore, the interest earned for the 5 years period between the 3rd year and 8th year = Rs 400 – Rs 300 = Rs 100
As the simple interest earned for a period of 5 years is Rs 100, interest earned per year = Rs 20
Therefore, interest earned for 3 years
= 3 × 20 = Rs 60
Hence, initial amount invested X
Amount after 3 years – interest for 3 years
= 300 – 60 = Rs 240
Rate of interest = (interest per year/ principal invested) × 100
= (20/240) × 100 = 8.33%
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Most Upvoted Answer
Pratap invested a certain sum of money in a simple interest bond whose...
Given:
- Amount at the end of 3 years = Rs 300
- Amount at the end of another 5 years = Rs 400

Calculating Simple Interest:
- The interest earned in the first 3 years = Rs 300 - Initial sum
- The interest earned in the next 5 years = Rs 400 - Rs 300

Calculating Rate of Interest:
- Let the initial sum be 'P' and rate of interest be 'R'
- Using the formula for simple interest: Interest = (P * R * T) / 100
- For the first 3 years: 300 - P = (P * R * 3) / 100
- For the next 5 years: 400 - 300 = (P * R * 5) / 100

Solving the Equations:
- From the first equation: 300 - P = 3PR / 100
- From the second equation: 100 = 5PR / 100
- Solving these two equations, we get R = 8.33%
Therefore, Pratap invested his sum at a rate of interest of 8.33%.
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Pratap invested a certain sum of money in a simple interest bond whose value grew to Rs 300 at the end of 3 years and to Rs 400 at the end of another 5 years. What was the rate of interest in which he invested his sum?a)12.5%b)6.67%c)6.25%d)8.33%Correct answer is option 'D'. Can you explain this answer?
Question Description
Pratap invested a certain sum of money in a simple interest bond whose value grew to Rs 300 at the end of 3 years and to Rs 400 at the end of another 5 years. What was the rate of interest in which he invested his sum?a)12.5%b)6.67%c)6.25%d)8.33%Correct answer is option 'D'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Pratap invested a certain sum of money in a simple interest bond whose value grew to Rs 300 at the end of 3 years and to Rs 400 at the end of another 5 years. What was the rate of interest in which he invested his sum?a)12.5%b)6.67%c)6.25%d)8.33%Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pratap invested a certain sum of money in a simple interest bond whose value grew to Rs 300 at the end of 3 years and to Rs 400 at the end of another 5 years. What was the rate of interest in which he invested his sum?a)12.5%b)6.67%c)6.25%d)8.33%Correct answer is option 'D'. Can you explain this answer?.
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