Practicing Success
With a given rate of simple interest, the ratio of principal and amount for a certain period of time is 4 : 5. After 3 years, with the same rate of interest, the ratio of the principal and amount becomes 5 : 7. The rate of interest is? |
10% 3% 5% 7% |
5% |
P : A ⇒ P : A 4 : 5 after 3 years 5 : 7 Since P remains same 20 : 25 20 : 28 28 - 25 = 3 ( in 3 years) SI in 1 year = \(\frac{3}{3}\) = 1 Rate = \(\frac{1}{20}\) × 100 % = 5% |