A certain sum of money is invested for one year at a certain rate of simple interest. If the rate of interest is 3% higher, then the invest earned will be 25% more than the interest earned earlier. What is the earlier rate of interest?

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Question:
A certain sum of money is invested for one year at a certain rate of simple interest. If the rate of interest is 3% higher, then the invest earned will be 25% more than the interest earned earlier. What is the earlier rate of interest?

1. 4% p.a.

2. 6% p.a.

3. 8% p.a.

4.12% p.a.

Posted Date:-2022-02-21 15:34:47

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