| Ratio of the principal and the amount after 1 yr is 10: 12. Then, the rate of interest per annum is |
| [SSG (FCI) 2012] |
A) 12%
B) 16%
C) 18%
D) 20%
Correct Answer: D
Solution :
| Given, \[\frac{\text{Principal}}{\text{Amount}}=\frac{10}{12}\] |
| \[\frac{\text{Amount}}{\text{Principal}}=\frac{\text{Principal}+\text{SI}}{\text{Principal}}=\frac{12}{10}-1=\frac{2}{10}\] |
| \[\Rightarrow \]\[1+\frac{\text{SI}}{\text{Principal}}=\frac{12}{10}\]\[\Rightarrow \]\[\frac{\text{SI}}{\text{Principal}}=\frac{12}{10}-1=\frac{2}{10}\] |
| \[\text{Rate}=\frac{\text{SI}\times 100}{\text{P}\times \text{T}}\] |
| \[\therefore \] \[\text{Rate}=\frac{1}{5}\times 100=20\]% |
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