At what rate percent will Rs. 1000 amount to Rs. 1180 in 3 years at simple interest?
- A. 7%
- B. 8%
- C. 5%
- D. 6% ✓
Correct answer
D. 6%
Explanation
SI = 1180-1000 = 180. Rate = (180 x 100)/(1000 x 3) = 6%.
D. 6%
SI = 1180-1000 = 180. Rate = (180 x 100)/(1000 x 3) = 6%.