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1. What is the rate of simple interest for the first 4 years if the sum of TK. 360 becomes TK. 540 in 9 years and the rate of interest for the last 5 years is 6% ?
- A. 4%
- B. 4%
- C. 4%
- D. 4%
Answer: Option B
Explanation:
Original sum = Tk. 360
Total interest in 9 years = 540 - 360 = 180
Interest in last 5 years = 5 x 6 = 30%
= 30/100 x 360 = Tk. 108
= > Interest in first four years : 180 - 108 = Tk. 72 Interest per annum = 72/4 = 18
Rate of interest for first four years = 18/360 x 100 = 5%
Total interest in 9 years = 540 - 360 = 180
Interest in last 5 years = 5 x 6 = 30%
= 30/100 x 360 = Tk. 108
= > Interest in first four years : 180 - 108 = Tk. 72 Interest per annum = 72/4 = 18
Rate of interest for first four years = 18/360 x 100 = 5%
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