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    A sum of money invested at simple interest becomes 17/10 of itself in 2 years and 6 months. What is the rate of interest per annum?
    Question

    A sum of money invested at simple interest becomes 17/10 of itself in 2 years and 6 months. What is the rate of interest per annum?

    A.

    22 percent

    B.

    16 percent

    C.

    28 percent

    D.

    34 percent

    Correct option is C

    Given:
    The final amount after 2 years and 6 months (or 2.5 years) is 1710\frac{17}{10}​ of the principal.
    Time = 2 years and 6 months = 2.5 years.
    Formula Used:
    For simple interest, the relationship between the principal, interest, and amount is given by the formula:
    A=P(1+R×T100)A = P \left( 1 + \frac{R \times T}{100} \right)​​
    Where:
    A is the final amount,
    P is the principal,
    R is the rate of interest per annum,
    T is the time period in years.
    Solution: 
    Putting the values in the formula 
    17=10(1+R×2.5100)17 = 10 \left( 1 + \frac{R \times 2.5}{100} \right) 
    1710=(1+R×2.5100)\frac{17}{10} = \left( 1 + \frac{ R \times 2.5}{100} \right) 
    17101=R×2.5100\frac{17}{10}-1 = \frac{R \times 2.5 }{100} 
    7×10010×2.5=R\frac{ 7 \times 100}{ 10 \times 2.5} = R 
    So,  R = 28% 

    Alternate Method: 
    Direct approach; 

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