A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

1.

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

[A].	5%
[B].	8%
[C].	12%
[D].	15%

Answer: Option C

Explanation:

S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.

S.I. for 5 years = Rs.		2205	x 5		= Rs. 3675
		3

Principal = Rs. (9800 - 3675) = Rs. 6125.

Hence, rate =		100 x 3675	%	= 12%
		6125 x 5

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