a) 3%
b) 4%
c) 6%
d) 5%
Answer: d
Explanation:
$$\eqalign{
& {\text{Interest}}\,{\text{for}}\,{\text{the}}\,{\text{last}}\,{\text{5}}\,{\text{years}} \cr
& = \frac{{PTR}}{{100}} \cr
& = \frac{{360 \times 5 \times 6}}{{100}} = Rs.\,108 \cr
& {\text{Interest}}\,{\text{for}}\,{\text{year}} = 540 – 360 = 180 \cr
& {\text{So,}}\,{\text{interest}}\,{\text{for}}\,{\text{first}}\,{\text{four}}\,{\text{years}} \cr
& = 180 – 108 = Rs.\,72 \cr
& {\text{Now,}}\,{\text{rate}}\,{\text{for}}\,{\text{first}}\,{\text{four}}\,{\text{years}} \cr
& = \frac{{ {72 \times 100} }}{{360 \times 4}} \cr
& = 5\% \cr} $$
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