MCQ
Mark $(\checkmark)$ against the correct answer in the following: The simple interest on a sum for $5$ years is $\frac{3}{3}$ of the sum. The rate percent per annum is:
- A$8\%$
- B$10\%$
- ✓$12\%$
- D$12\frac12\%$
✓
Answer
Correct option: C.
$12\%$
Let the sum be $Rs. x$
Let the rate be $R \%$ per annum
$\text{S.I.}=\frac{\text{P}\times\text{R}\times\text{T}}{100}$
$=\frac{\text{x}\times\text{R}\times5}{100}$
$=\frac{\text{Rx}}{20}$
$\therefore\frac{3\text{x}}{5}=\frac{\text{Rx}}{20}$
$\Rightarrow\text{R}=\frac{3\text{x}\times20}{5\text{x}}=12\%$
Let the rate be $R \%$ per annum
$\text{S.I.}=\frac{\text{P}\times\text{R}\times\text{T}}{100}$
$=\frac{\text{x}\times\text{R}\times5}{100}$
$=\frac{\text{Rx}}{20}$
$\therefore\frac{3\text{x}}{5}=\frac{\text{Rx}}{20}$
$\Rightarrow\text{R}=\frac{3\text{x}\times20}{5\text{x}}=12\%$
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