CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Bank Passbook and Its Components

The simple in...

Question

The simple interest obtained on a sum of ₹5000 for 3 years is ₹1500. Find the rate percent.

A

8 %

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

9 %

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

10 %

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

11 %

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C $10 %$

Let rate is R%.
We have, $I = \frac{P T R}{100}$ .
Here, $1500 = 5000 \times 3 \times \frac{R}{100}$ .
Thus, $R = 10 %$

Suggest Corrections

thumbs-up

1

Similar questions

Q. Interest obtained on a sum of ₹5000 for 3 years is ₹1500. Then what is the rate of interest?

Q. The simple interest on a sum of money for

5

\frac{3}{5}

of the sum. Find the rate percent per annum.

Q. The simple interest on a sum of Rs.1500 at an interest rate of 4 percent for 1 year will be

Q. On a certain sum and at a certain rate percent, the simple interest for the first year is Rs. 270, and the compound interest for the first two years is Rs. 580.50. Find the sum and the rate percent.

Q. Amit borrowed ₹ 1500 at the rate of 12% per annum for three years. Find the simple interest on this sum.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Bank Passbook

MATHEMATICS

Watch in App

explore_more_icon

Explore more

Bank Passbook and Its Components

Standard VII Mathematics

Join BYJU'S Learning Program

CrossIcon