A sum of money amounts to Rs 9800 after 5 years and Rs 12005 after 8 years at - Applied Mathematics - Financial Mathematics

Question

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:

A
5%

B
8%

C
12%

D
15%

Sneha Apar · Accepted Answer

Solution :

Hence Rate of interest is 12% Option C

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: A. 5% B. 8% C. 12% D. 15%