Question

Q. A certain sum of money amounts to Rs 1170 in 2 years and Rs 1372.5 in $3\frac{1}{4}\%$ years. What is the rate of interest?

• A. 11%
• B. 12%
• C. 13%
• D. 14%
• E. 15%

Answer 1

The correct option is E 15%

$\text{Si for}1\frac{1}{2}\text{Year is}1372.5-1170=202.5\text{Si for 2 year}=202.5\times \frac{2}{3}\times 2=270\text{Principal amount}=1372.5-270=900\text{Rate of interest}=\frac{100\times 270}{900\times 2}=15\%$