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Discussion :: Simple Interest

  1. A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is?
    2. A.
    5%
    B.
    8%
    C.
    12%
    D.
    15%

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    Answer : Option C

    Explanation :

    S.I. for 3 years = (12005 - 9800) = Rs. 2205

    S.I. for 5 years = Rs. 2205/3 * 5 = Rs. 3675.

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