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Question
The sum of principal and simple interest of a certain amount of money would be Tk. 460 after three years from now and Tk. 500 after five years from now. What is the related interest rate?
18%
6%
5%
7.5%
20%
ANSWER : 3
Descrption
<p>(5 - 3) = 2 years interest = (500 - 460) = 40 tk</p> <p>1 years interest = 40/2 = 20 tk</p> <p>3 year's interest 20 × 3 = 60 tk</p> <p>Principle amount = (460 - 60) = 400 tk</p> <p>Interest rate = (60×100)/(400×3) = 5% (ans)</p>
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