Discussion
If the Simple Interest on Rs. 20,000 be more than the Simple Interest on Rs. 15,000 by Rs. 3,000 in 5 years, the rate percent p.a. is?
Answer: C
The extra principal is Rs 5,000, and its simple interest in 5 years is Rs 3,000, so \[\tfrac{5000\times5\times r}{100}=3000\] gives r = 12%, option C.
9.8%, 10% and 12.5% would give Rs 2,450, Rs 2,500 and Rs 3,125 on Rs 5,000.
Since only the difference of the principals matters, 3,000 is the simple interest on Rs 5,000 for 5 years, and the rate follows from 3,000 x 100 / (5,000 x 5) = 12. Testing the options confirms it, for 10 per cent would give Rs 2,500 and 12.5 per cent Rs 3,125 on Rs 5,000.
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