Question : The rate of simple interest for which INR 9,000 will amount to INR 10,200 in 4 years is:
Option 1: $4\frac{2}{3}\%$
Option 2: $7\frac{1}{3}\%$
Option 3: $5\frac{1}{2}\%$
Option 4: $3\frac{1}{3}\%$
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Correct Answer: $3\frac{1}{3}\%$
Solution : Simple interest = 10,200 – 9,000 = 1,200 Simple Interest $=\frac{\text{Principal×Rate×Time}}{100}$ ⇒ $\text{Rate} = \frac{1200 \times 100}{4\times 9000}$ ⇒ $\text{Rate} = \frac{120}{4\times 9}$ ⇒ $\text{Rate} = \frac{10}{3}$ ⇒ $\text{Rate} = 3\frac{1}{3}\%$ Hence, the correct answer is $3\frac{1}{3}\%$.
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Question : If the simple interest at the same rate of interest on INR 500 for 4 years and INR 700 for 2 years combined, is INR 280, then what is the rate of interest?
Option 1: $9 \frac{3}{17}\%$
Option 2: $6 \frac{5}{17}\%$
Option 3: $8 \frac{4}{17}\%$
Option 4: $7 \frac{3}{17}\%$
Question : At simple interest, a sum of INR 6,400 becomes INR 8,320 in 3 years. What will INR 7,200 become in 5 years at the same rate?
Option 1: INR 10,200
Option 2: INR 10,600
Option 3: INR 10,800
Option 4: INR 10,400
Question : When will INR 3,720 amount to INR 5,282.4 at 12% simple interest per annum?
Option 1: $3$ years
Option 2: $3 \frac{1}{2}$ years
Option 3: $5 \frac{1}{2}$ years
Option 4: $5$ years
Question : If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years and 6 months, at the same rate of simple interest per annum, the rate of simple interest is:
Option 1: $21\frac{3}{7}$%
Option 2: $21\frac{2}{7}$%
Option 3: $21\frac{1}{7}$%
Option 4: $21\frac{5}{7}$%
Question : At what rate of interest will a sum of INR 4,500 amount to INR 6,525 at simple interest for 5 years?
Option 1: 10%
Option 2: 9%
Option 3: 8%
Option 4: 12%
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