At what rate per annum will Rs. $2{,}500$ produce a simple interest of Rs. $625$ in $5$ years?
At what rate per annum will Rs. $2{,}500$ produce a simple interest of Rs. $625$ in $5$ years?
- $4\%$
- $5\%$
- $6\%$
- $8\%$
Solution
$R = \dfrac{100 \cdot \text{SI}}{P \cdot T} = \dfrac{100 \cdot 625}{2500 \cdot 5} = \dfrac{62500}{12500} = 5\%$.
Asked in: IMO
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