What rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years?

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What rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years?

Arneet Singh

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Punjab

Time: 00:05:36

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A. 4%

B. 6%

C. $$5\frac{2}{3}$$ %

D. $$6\frac{2}{3}$$ %

Solution(By Examveda Team)

$$\eqalign{ & {\text{Let principal = 5 units}} \cr & {\text{Hence interest}} \cr & {\text{ = 5}} \times \frac{2}{5} \cr & {\text{ = 2 units}} \cr & {\text{Time = 10 years}} \cr & {\text{By using formula, }} \cr & {\text{Rate% = }}\frac{2}{5} \times \frac{{100}}{{10}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = 4% }} \cr} $$

► MCQ Exam ON : Simple Interest

What rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years?

At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years?


1)   0.05
2) 0.04
3)   0.07
4)   0.06
5)   NULL

(Complaint Here As Incorrect)

Question Detail

  • 1%
  • 2%
  • 3%
  • 4%

Answer: Option D

Explanation:

Let sum = x
Time = 10 years.
S.I = 2x /5, [as per question]
Rate =( (100 * 2x) / (x*5*10))%
=> Rate = 4%

Similar Questions :

1. At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years

  • 1%
  • 2%
  • 3%
  • 4%

Answer: Option D

Explanation:

Let sum = x
Time = 10 years.
S.I = 2x /5, [as per question]
Rate =( (100 * 2x) / (x*5*10))%
=> Rate = 4%

2. A sum of money amounts to Rs 9800 after 5 years and Rs 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is

  • 9%
  • 10%
  • 11%
  • 12%

Answer: Option D

Explanation:

We can get SI of 3 years = 12005 - 9800 = 2205

SI for 5 years = (2205/3)*5 = 3675 [so that we can get principal amount after deducting SI]

Principal = 12005 - 3675 = 6125

So Rate = (100*3675)/(6125*5) = 12%

3. Find the simple interest on Rs 7000 at 50/3 % for 9 months

  • Rs. 1075
  • Rs. 975
  • Rs. 875
  • Rs. 775

Answer: Option C

Explanation:

\begin{aligned}
\text{ S.I. = } \frac{P \times R \times T}{100}
\end{aligned}
So, by putting the values in the above formula, our result will be.
\begin{aligned}
\text{ Required result = } \frac{7000 \times 50 \times 9}{3 \times 12 \times 100} = 875
\end{aligned}

[Please note that we have divided by 12 as we converted 9 months in a year format]

4. We have total amount Rs. 2379, now divide this amount in three parts so that their sum become equal after 2, 3 and 4 years respectively. If rate of interest is 5% per annum then first part will be ?

  • 818
  • 828
  • 838
  • 848

Answer: Option B

Explanation:

Lets assume that three parts are x, y and z.
Simple Interest, R = 5%

From question we can conclude that, x + interest (on x) for 2 years = y + interest (on y) for 3 years = z + interest (on y) for 4 years

\begin{aligned}
\left( x + \frac{x*5*2}{100} \right) = \left( y + \frac{y*5*3}{100} \right) = \left( z + \frac{z*5*4}{100} \right)\\
\left( x + \frac{x}{10} \right) = \left( y + \frac{3y}{20} \right) = \left( z + \frac{z}{5} \right) \\
=> \frac{11x}{10} = \frac{23y}{20} = \frac{6z}{5} \\

\text{lets assume k = }\frac{11x}{10} = \frac{23y}{20} = \frac{6z}{5} \\
\text{then }x = \frac{10k}{11} \\
y = \frac{20k}{23}\\
z = \frac{5k}{6}\\
\text{we know x+y+z = 2379}\\
=> \frac{10k}{11} + \frac{20k}{23} + \frac{5k}{6} = 2379\\
\text{10k*23*6+20k*11*6+5k*11*23=2379*11*23*6}\\
\text{1380k+1320k+1265k=2379*11*23*6}\\
\text{3965k=2379*11*23*6}\\
k = \frac{2379*11*23*6}{3965}\\
\text{by putting value of k we can get x} \\
x = \frac{10k}{11} \\
=>x = \frac{10}{11}*\frac{2379*11*23*6}{3965}\\
=>x = \frac{10*2379*23*6}{3965}\\
= \frac{2*2379*23*6}{793}\\
= 2 * 3 * 23 * 6 = 828
\end{aligned}

5. There was simple interest of Rs. 4016.25 on a principal amount at the rate of 9%p.a. in 5 years. Find the principal amount

  • Rs 7925
  • Rs 8925
  • Rs 7926
  • Rs 7925

Answer: Option B

Explanation:

\begin{aligned}
P = \frac{S.I. * 100}{R*T}
\end{aligned}

So by putting values from our question we can get the answer

\begin{aligned}
P = \frac{4016.25 * 100}{9*5} \\
= 8925
\end{aligned}

Read more from - Simple Interest Questions Answers

At what rate percent per annum simple interest will a sum of money be 2 5?

or r=520=4%

At what rate percent per annum will a sum of money becomes 5 by 4 of itself in 10 years?

The rate of interest per annum is 25%.

At what rate percent per annum simple interest will a sum double itself in 10 years?

Hence the required rate in which the sum becomes double itself in 10 years is 10%.

How long will it take a sum of money invested at 5% per annum simple interest to increase its value by 40%?

Thus, it will take 8 years.