CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
Question

A man earns an interest of ₹510 on a sum he lent at 17% per annum for two years. Had he earned 10% more interest on the same amount in same time , what should be the rate of interest?

A
18%
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
18.3%
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
18.7%
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D
19%
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is C 18.7%
S.I = ₹510

S.I = P×R×T100

P = S.I×100R×T

P = 510×10017×2

P = ₹1,500

If, interest is 10% more
S.I = 510 + 10% of 510
S.I = ₹561

R = S.I×100P×T

R = 561×1001,500×2

R = 18.7 %

The rate of interest should be 18.7%.

flag
Suggest Corrections
thumbs-up
3
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Formula for Calculating Simple Interest
MATHEMATICS
Watch in App
Join BYJU'S Learning Program
CrossIcon