Sample interest on a sum of money for 3 years is ₹ 240 and compound interest on same sum, at same

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6.Interest

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The sample interest on a sum of money for $3$ years is ₹ $240$ and the compound interest on the same sum, at the same rate for $2$ years is ₹ $170 .$ The rate of interest is (In $\%$)

A

$8$

B

$29 \frac{1}{6}$

C

$12.5$

D

$5 \frac{5}{17}$

Solution

(c) S.I for 3 years $=₹ 240$. $\therefore$ For 1 year $=₹ 80$

For same rate $1^{\text {st }}$ year $S . I =1^{\text {st }}$ year C.I. $\therefore 2^{ nd }$ year $C.I =170-80=90 ₹$

$\therefore$ Rate of Interest $=\frac{90-80}{80} \times 100=\frac{10}{80} \times 100=12 \frac{1}{2} \%$

Standard 13

Quantitative Aptitude

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