Quant Exam  >  Quant Questions  >  The simple Interest on a certain sum of money... Start Learning for Free
The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?
  • a)
    5%
  • b)
    6%
  • c)
    7%
  • d)
    8%
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
The simple Interest on a certain sum of money at the rate of 4% p.a. f...
5%
S.I. = 1680, R = 4% T = 5 years
Principal = (100 *1680)/ (5*4) = 8400
So P = 8400
Rate = (100 *1680)/ (8400 * 4) = 5%
View all questions of this test
Most Upvoted Answer
The simple Interest on a certain sum of money at the rate of 4% p.a. f...
Given data:
Simple Interest = Rs. 1680
Rate of interest = 4% p.a.
Time = 5 years

To find:
Rate of interest for the same amount of interest after 4 years

Solution:
Let Principal be P.

Using the formula for Simple Interest:
Simple Interest = (P * R * T) / 100

Substituting the given values:
1680 = (P * 4 * 5) / 100
P = Rs. 8400

Now, to find the rate of interest for the same amount of interest after 4 years, let R1 be the required rate of interest.

Using the formula for Simple Interest:
Simple Interest = (P * R1 * T1) / 100

Substituting the values:
1680 = (8400 * R1 * 4) / 100
R1 = 5%

Therefore, the required rate of interest is 5%.

Answer: Option A (5%)
Explore Courses for Quant exam
The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer?
Question Description
The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer?.
Solutions for The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant. Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer?, a detailed solution for The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice The simple Interest on a certain sum of money at the rate of 4% p.a. for 5 years is Rs. 1680. At what rate of interest the same amount of interest can be received on the same sum after 4 years ?a)5%b)6%c)7%d)8%Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Quant tests.
Explore Courses for Quant exam
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev