Multiple choice

If the interest on Rs. 1200 is more than the interest on Rs. 1000 by Rs. 50 in 3 years, find the rate percentage.

  1. 10.33%

  2. 9.66%

  3. 8.33%

  4. 7.66%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Difference in interest = 50. Principal difference = 1200 - 1000 = 200. Time = 3 years. SI = P*R*T/100 -> 50 = 200 * R * 3 / 100. 50 = 6 * R. R = 50/6 = 8.33%.

AI explanation

Using the Simple Interest formula where the difference in interest equals the difference in principal multiplied by the rate and time, we have 50 = (1200 - 1000) * R * 3 / 100. Simplifying this gives 50 = 200 * R * 3 / 100, which further reduces to 50 = 6R. Therefore, R = 50 / 6, which is 8.33%. The result is 8.33%.

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