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On simple interest, a certain sum of money amounts to ₹1,400 in 2 years and to ₹2,000 in 5 years. Find the rate of interest per annum.
16.67%
11.11%
25%
20%
20%
Calculate interest for 3 years (5-2) as 2000-1400 = 600. So interest for 1 year is 200. Principal is 1400 - (200 * 2) = 1000. Rate = (200/1000) * 100 = 20%.
Sum in 2 years = ₹1,400, Sum in 5 years = ₹2,000
R=P×TSI×100
Calculate interest for 3 years (5-2) as 2000-1400 = 600. So interest for 1 year is 200. Principal is 1400 - (200 * 2) = 1000. Rate = (200/1000) * 100 = 20%.
Using the amount (1400 or 2000) as the principal P in the interest formula instead of calculating the initial sum (1000).
Calculate Interest for 3 years
Subtract the amount at 2 years from the amount at 5 years: 2000−1400=600.
SI3yrs=600
Calculate Annual Interest
Since interest is simple, divide by 3: 600/3=200 per year.
SI1yr=200
Find Principal
Subtract 2 years of interest from the 2-year amount: 1400−(200×2)=1000.
P=1000
Calculate Rate
Apply the rate formula R=P×TSI×100 using 1 year interest: (200/(1000×1))×100=20%.
R=20%
D is correct because the calculated rate of interest is 20%.
This logic is identical to finding the slope of a linear function in coordinate geometry where interest is the constant slope.
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