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 A certain sum of money invested at 4% for 9 years yields Rs 1980 as simple interest. At what rate of interest the same amount can be received on the same sum after 6 years?
  • a)
    8.5%
  • b)
    7%
  • c)
    6.5%
  • d)
    6%
  • e)
    8%
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
A certain sum of money invested at 4% for 9 years yields Rs 1980 as si...
D) 6%
Explanation: P*4*9/100 = 1980
P = 5500
So 5500*r*6/100 = 1980
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Most Upvoted Answer
A certain sum of money invested at 4% for 9 years yields Rs 1980 as si...
To find the rate of interest at which the same amount can be received in 6 years, we need to use the formula for simple interest:

Simple Interest = (Principal * Rate * Time) / 100

Given that the principal amount is the same in both cases, we can use the formula to find the rate of interest.

Let's solve the problem step by step:

Step 1: Given information
Principal = same in both cases
Simple Interest (SI1) = Rs 1980
Time (T1) = 9 years

Step 2: Calculate the rate of interest for the given information
SI1 = (Principal * Rate * T1) / 100
1980 = (Principal * 4 * 9) / 100
1980 = (36 * Principal) / 100
1980 * 100 = 36 * Principal
198000 = 36 * Principal
Principal = 198000 / 36
Principal = Rs 5500

Step 3: Calculate the rate of interest for the new time period
Let's assume the rate of interest is R2.
SI2 = (Principal * R2 * 6) / 100

We want SI2 to be equal to Rs 1980, so we can set up the equation as follows:
1980 = (5500 * R2 * 6) / 100
1980 * 100 = 330 * R2
198000 = 330 * R2
R2 = 198000 / 330
R2 = 600 / 10
R2 = 60

Therefore, the rate of interest at which the same amount can be received after 6 years is 6%.

Hence, the correct answer is option D) 6%.
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A certain sum of money invested at 4% for 9 years yields Rs 1980 as simple interest. At what rate of interest the same amount can be received on the same sum after 6 years?a)8.5%b)7%c)6.5%d)6%e)8%Correct answer is option 'D'. Can you explain this answer?
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