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Rupees 1,080 invested for 3 months gave an interest of Rupees 27. What was the simple rate of interest per annum?
A2.5%
B10%
C5%
D7.5%
Answer & Solution
Correct answer: B. 10%
1. SI = (P x R x T)/100, with T = 3 months = 3/12 year.
2. 27 = (1080 x R x 3/12)/100 = (1080 x 3 x R)/1200.
3. 27 = 270R/100, so R = 2700/270 = 10%.
_Source: RRB Group D CEN-02/2018 PYQ, Q.7._
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