Question : The simple interest received on a sum for 20 years is $\frac{3}{5}$ of the sum. What is the annual rate of interest?
Option 1: 3%
Option 2: 4%
Option 3: 5%
Option 4: 6%
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Correct Answer: 3%
Solution : The formula for calculating simple interest is given by: Simple Interest (SI) = $\frac{P×R×T}{100}$, where $P$ is the principal amount, $R$ is the rate of interest per annum, and $T$ is the time in years. The simple interest received in 20 years = $\frac{3}{5}P$ ⇒ $\frac{3}{5}×P = \frac{P×R×20}{100}$ ⇒ $\frac{3}{5} = \frac{R×20}{100}$ ⇒ $R = 3$% Therefore, the annual rate of interest is $3$%. Hence, the correct answer is 3%.
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Question : The simple interest received on a sum is $\frac{4}{9}$ of the sum. The number of years is equal to the annual rate of interest. What is the annual rate of interest?
Option 1: 7.5%
Option 2: 6.66%
Option 3: 6%
Option 4: 5.25%
Question : The simple interest received on a sum at the rate of 8 percent per annum is $\frac{2}{5}$ of the sum. What is the period?
Option 1: 6 years
Option 2: 5 years
Option 3: 4 years
Option 4: 7.5 years
Question : The simple interest on a sum for 5 years is $\frac{3}{5}$th of the sum. The rate of interest per annum is:
Option 1: 10%
Option 2: 12%
Option 3: 8%
Option 4: $12\frac{1}{2}$%
Question : On a certain sum, simple interest at the annual rate of 12% for 6 years is Rs. 28800. What will be the compound interest on the same sum at the annual rate of 20% (compounding annually) for 2 years?
Option 1: Rs. 17600
Option 2: Rs. 19200
Option 3: Rs. 12000
Option 4: Rs. 14400
Question : Simple interest received by a person in 12 years on a principal of INR 12000 is 120% of the principal. What is the annual rate of interest?
Option 1: 20%
Option 3: 10%
Option 4: 5%
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