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A sum of money becomes $\dfrac{7}{5}$ of itself in 4 years at a certain rate of simple interest. The rate per annum is :

9%
10%
11%
12%
Explanation:

Let the sum of money be Rs.x

$\text{Amount after 4 years = }\dfrac{7x}{5}$

T = 4 years

R = ?

$\text{Simple Interest, SI = }\left(\dfrac{7x}{5} - x\right) = \dfrac{2x}{5}$

$\text{R = }\dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times \dfrac{2x}{5} }{x \times 4}= \dfrac{40}{4} = 10\%$

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