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6. A well-known company advertises Make Fixed Deposits of 50 lakhs with usbecome crorepati in 5 years flat! If the company offers simple interest. then their rate ofinterest is.a) 15%b) 20%c) 255d) 25% |
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Answer» Given : company ADVERTISES Make Fixed Deposits of 50 lakhs with us become crorepati in 5 years flat! the company offers simple interest. To Find : rate of interest a) 15% b) 20% c) 255 d) 25% Solution: Make Fixed Deposits of 50 lakhs => P = 50 lakhs become crorepati => A = 100 lakhs ( as 1 crore = 100 lakhs) R = ? T = 5 SI = P * R * T /100 A = P + SI => 100 lakhs = 50 lakhs + SI => SI = 50 lakhs SI = P * R * T /100 50 lakhs = (50 lakhs ) * R * 5 / 100 => 1 = R/20 => R = 20 Rate of interest is 20 % LEARN More: if the difference between the ci and si for 2 years at 12 percentage ... 1. Find the difference between C.I and S.I on 5000 for 1 YEAR at 2 ... |
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