At what rate percent will Rs. 12200 amount to Rs. 17080 in 5 years at simple interest?
- A. 8% ✓
- B. 7%
- C. 6%
- D. 9%
Correct answer
A. 8%
Explanation
SI = 17080-12200 = 4880. Rate = (4880 x 100)/(12200 x 5) = 8%.
A. 8%
SI = 17080-12200 = 4880. Rate = (4880 x 100)/(12200 x 5) = 8%.