Aptitude - Simple Interest - Discussion
Discussion Forum : Simple Interest - General Questions (Q.No. 6)
6.
A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?
Answer: Option
Explanation:
S.I. = Rs. (15500 - 12500) = Rs. 3000.
| Rate = |  |
100 x 3000 |  % |
= 6% |
| 12500 x 4 |
Video Explanation: https://youtu.be/SIcQu1HOmOk
Discussion:
51 comments Page 6 of 6.
Dozie said:
1 decade ago
S.I per annum = (15500-12500)/4 = 750.
Rate = (S.I*100)/(P*T).
= (750*100)/(12500*4).
= 75000/50000 = 1.5.
Since interest is for four years, multiply by 4, thus; 1.5*4 yrs = 6.
Therefore are (rate) = 6%.
Rate = (S.I*100)/(P*T).
= (750*100)/(12500*4).
= 75000/50000 = 1.5.
Since interest is for four years, multiply by 4, thus; 1.5*4 yrs = 6.
Therefore are (rate) = 6%.
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