At what rate percent will Rs. 12050 amount to Rs. 14942 in 4 years at simple interest?
- A. 8%
- B. 5%
- C. 6% ✓
- D. 7%
Correct answer
C. 6%
Explanation
SI = 14942-12050 = 2892. Rate = (2892 x 100)/(12050 x 4) = 6%.
C. 6%
SI = 14942-12050 = 2892. Rate = (2892 x 100)/(12050 x 4) = 6%.