1) A sum of money becomes 4140 of itself in 14 years at a certain rate of simple interest. The rate of interest per annum is A) 10% B) 1% C) 2.5% D) 5% E) 3% Answer: Option AExplanation:Let the principal be Rs. 1. Hence, S.I =4140−1 =140 Rate % =100×S.IP×N =140×1001×14 = 10%