A sum invested at 5% simple interest per annum grows to Tk. 504 in 4 years. The same amount at 10% simple interest per annum in 21/2 years will grow to:

A sum invested at 5% simple interest per annum grows to Tk. 504 in 4 years. The same amount at 10% simple interest per annum in 2¹/₂ years will grow to:

A Tk.420

B Tk.450

C Tk.525

D Tk.550

Solution

Correct Answer: Option C

we know, principle=100x(capital+interest)/(100+time X rate)=420 tk interest=capital x time x rate/100=420 x 10 x 5/ 2x 100=105 tk Amounts=(420+105) tk=525 tk

Solution

Practice More Questions on Our App!

Related Topics