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Simple Interest — MATHS STD 7 — Question

Gujarat BoardEnglish MediumSTD 7MATHSSimple Interest1 Mark
MCQ
Mark $(\checkmark)$ against the correct answer in the following: The simple interest on a sum for $5$ years is $\frac25$ of the sum. The rate percent per annum is:
  • A
    $10\%$
  • ✓
    $8\%$
  • C
    $6\%$
  • D
    $12\frac12\%$
✓

Answer

Correct option: B.
$8\%$

Times $= 5$ years
Simple interest $=\frac25\text{P}$
$\Rightarrow\frac{\text{P}\times\text{Rate}\times\text{time}}{100}=\frac{2}{5}\text{P}$
$\Rightarrow\frac{\text{Rate}\times5}{100}=\frac25$
$\Rightarrow\text{Rate}=\frac{2\times100}{5\times5}$
$\Rightarrow\text{Rate}=8\%$

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