Practicing Success
With a given rate of simple interest, the ratio of principal and amount for a certain period of time is 3 : 4 . After 2 years, with the same rate of interest, the ratio of the principal and amount becomes 5 : 6 . The rate of interest is? |
3\(\frac{2}{3}\)% 6\(\frac{2}{3}\)% 6% 8% |
6\(\frac{2}{3}\)% |
P : A ⇒ P : A 3 : 4 after 2 years 5 : 6 Since P remains same 15: 20 15 : 18 20 - 18 = 2 ( in 2 years) SI in 1 year = \(\frac{2}{2}\) = 1 Rate = \(\frac{1}{15}\) × 100 % = 6\(\frac{2}{3}\)% |