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Discussion :: Simple Interest

  1. At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years?
    2. A.
    4%
    B.
    5 2/3 %
    C.
    6%
    D.
    6 2/3 %

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    Answer : Option A

    Explanation :

    Let sum = x. Then, S.I. = 2x/5, Time = 10 years.

    Rate = (100 * 2x) / (x * 5 * 10) = 4%

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