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8th Class Mathematics Comparing Quantities Question Bank Commercial Mathematics

  • question_answer
    DIRECTIONS: Passage-4 Read the passage(s) given below and answer the questions that follow. Rs. 2000 amounts to Rs. 2600 in five years at a certain rate of simple interest. If the rate of interest is 3% more than the previous rate, then what will be the simple interest on same sum in the same time period?

    A) Rs. 900          

    B)                      Rs. 700

    C) Rs. 500          

    D)                      Rs. 800

    Correct Answer: A

    Solution :

    New rate of interest = (6 + 3)% = 9% p.a. Now, \[S.I=\frac{P\times R\times T}{100}\] \[=\frac{2000\times 9\times 5}{100}\] = Rs. 900


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