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CLAT Sample Paper CLAT Sample Paper-4

  • question_answer
    If the simple interest on a certain sum of money after \[6\frac{1}{4}\,yr\] is 3/8 of the principal, then the rate of interest per annum is

    A)  5%            

    B)  6%

    C)  4%             

    D)  None of these

    Correct Answer: B

    Solution :

    Let the sum of money be Rs x. Then, simple interest \[=\frac{3}{8}x\] Also, time \[=6\frac{1}{4}\] yr, i.e., \[\frac{25}{4}\] yr \[\therefore \] Rate \[(R)=\frac{100\times SI}{P\times T}=\frac{100\times \frac{3x}{8}}{x\times \frac{24}{4}}=\frac{100\times 3}{2\times 25}=6%\]


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