At what rate percent will Rs. 10350 amount to Rs. 10971 in 2 years at simple interest?
- A. 2%
- B. 4%
- C. 3% ✓
- D. 5%
Correct answer
C. 3%
Explanation
SI = 10971-10350 = 621. Rate = (621 x 100)/(10350 x 2) = 3%.
C. 3%
SI = 10971-10350 = 621. Rate = (621 x 100)/(10350 x 2) = 3%.