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 A

Explanation:

Let the principal be Rs. 1.

Hence, S.I =41401 =140

Rate % =100×S.IP×N =140×1001×14 = 10%