Quantitative Aptitude Ques 2231

Question: On a certain sum, the simple interest at the end of $ 6\frac{1}{4}yr $ becomes $ \frac{3}{8} $ of the sum. The rate of interest is

Options:

A) 5%

B) 6%

C) 7%

D) 8%

Show Answer

Answer:

Correct Answer: B

Solution:

  • Let the sum (principal) be x. Then, $ SI=\frac{3}{8}x $
    $ \Rightarrow $ $ T=6\frac{1}{4}yr $ $ R=? $ $ SI=\frac{P\times R\times T}{100} $

$ \Rightarrow $ $ \frac{3}{8}x=\frac{x\times R\times 25}{4\times 100} $
$ \Rightarrow $ $ R=\frac{16\times 3}{8} $

$ \Rightarrow $ $ R=\frac{48}{8} $
$ \Rightarrow $ R=6%

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