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Prem invested a certain sum of money in a simple interest. It amounts to Rs 300 at the end of 3 year and to Rs 400 at the end of 8 year. What was the rate of interest in which he invested his sum?
  • a)
    12%
  • b)
    24%
  • c)
    6.67%
  • d)
    8.33%
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Prem invested a certain sum of money in a simple interest. It amount...
Let principal be P and rate of interest be r%
Then
At the end of another 5 years means 3 + 5 = 8 years.
On Subtracting Eq . (i) from Eq. (ii)
ஃ P x r = 2,000
From Eq (i),
240 x r = 2000
r = 8.33%
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Prem invested a certain sum of money in a simple interest. It amounts to Rs 300 at the end of 3 year and to Rs 400 at the end of 8 year. What was the rate of interest in which he invested his sum?a)12%b)24%c)6.67%d)8.33%Correct answer is option 'D'. Can you explain this answer?
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Prem invested a certain sum of money in a simple interest. It amounts to Rs 300 at the end of 3 year and to Rs 400 at the end of 8 year. What was the rate of interest in which he invested his sum?a)12%b)24%c)6.67%d)8.33%Correct answer is option 'D'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about Prem invested a certain sum of money in a simple interest. It amounts to Rs 300 at the end of 3 year and to Rs 400 at the end of 8 year. What was the rate of interest in which he invested his sum?a)12%b)24%c)6.67%d)8.33%Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prem invested a certain sum of money in a simple interest. It amounts to Rs 300 at the end of 3 year and to Rs 400 at the end of 8 year. What was the rate of interest in which he invested his sum?a)12%b)24%c)6.67%d)8.33%Correct answer is option 'D'. Can you explain this answer?.
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