By Poonam

Verified by Ajay Kumar

An amount invested on simple interest at 'R%' p.a. amounts to Rs. 9,504 and Rs. 12,384 in 4 years and 9 years, respectively. Find the value of 'R'.

  1. 7%

  2. 5%

  3. 11%

  4. 8%

Answer: D

Solution

Interest for 5 years = 12384 − 9504 = ₹2,880. Annual interest = 2880/5 = ₹576. Principal = 9504 − 4 × 576 = ₹7,200. Rate = (576/7200) × 100 = 8%.

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