alleryRupees 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._
Keep practising Simple Interest
Browse all Simple Interest questions for Accenture Hiring, or explore more Quantitative Aptitude topics.
Related questions
For the same principal, rate and a period of one year, compound interest compounded annualAt simple interest, a sum doubles itself in 8 years. The annual rate is:Find the simple interest on 5,000 at 8% per annum for 3 years.For 10,000 at 10% per annum for 2 years, compound interest exceeds simple interest by:20,000 is borrowed for 2 years at 8% compounded annually. The compound interest is:Compound interest differs from simple interest because compound interest is calculated on:Find the simple interest on 15,000 at 5% per annum for 2 years.A sum of 10,000 is borrowed at 15% per annum simple interest for 2 years. The amount repay