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A man invested x rupees for 11 years at a rate of r% simple interest. If the amount he received after 11 years is 7.85x, find the rate percentage.

A man invested x rupees for 11 years at a rate of r% simple interest. If the amount he received after 11 years is 7.85x, find the rate percentage. Correct Answer 62.27%

The rate = Interest * 100 / (amount invested * time) The interest = amount received – the amount invested = 7.85x – x = 6.85x The rate = 6.85 * 100 / (x * 11) = 685 / 11 = 62.27%

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