Rohit borrowed Rs. 625 from his friend Shyam. After 146 days, Rohit repaid a sum of Rs. 641.25. Find the rate of interest Shyam charged Rohit.

4.5%

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6.5%

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9.5%

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3.8%

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Solution

The correct option is B
6.5%

Amount = Principal + S.I.

641.25 = 625 + S.I.

S.I. = 641.25 - 625

S.I. = Rs. 16.25

As the rate is given in days, convert it to years to get a per annum rate
T = 146 days = 146/365 = 0.4 years

R = $\frac{16.25 \times 100}{625 \times 0.4}$ = 6.5%

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Rohit borrowed Rs. 625 from his friend Shyam. After 146 days, Rohit repaid a sum of Rs. 641.25. Find the rate of interest Shyam charged Rohit.

The correct option is B 6.5% Amount = Principal + S.I. 641.25 = 625 + S.I. S.I. = 641.25 - 625 S.I. = Rs. 16.25 As the rate is given in days, convert it to years to get a per annum rate T = 146 days = 146/365 = 0.4 years R = 16.25×100625×0.4 = 6.5%

The correct option is B
6.5%

Amount = Principal + S.I.

641.25 = 625 + S.I.

S.I. = 641.25 - 625

S.I. = Rs. 16.25

As the rate is given in days, convert it to years to get a per annum rate
T = 146 days = 146/365 = 0.4 years

R = $\frac{16.25 \times 100}{625 \times 0.4}$ = 6.5%