At what rate percent will Rs. 10400 amount to Rs. 16640 in 5 years at simple interest?
- A. 15%
- B. 12% ✓
- C. 14%
- D. 11%
Correct answer
B. 12%
Explanation
SI = 16640-10400 = 6240. Rate = (6240 x 100)/(10400 x 5) = 12%.
B. 12%
SI = 16640-10400 = 6240. Rate = (6240 x 100)/(10400 x 5) = 12%.