At what rate percent will Rs. 12300 amount to Rs. 14022 in 2 years at simple interest?
- A. 8%
- B. 6%
- C. 9%
- D. 7% ✓
Correct answer
D. 7%
Explanation
SI = 14022-12300 = 1722. Rate = (1722 x 100)/(12300 x 2) = 7%.
D. 7%
SI = 14022-12300 = 1722. Rate = (1722 x 100)/(12300 x 2) = 7%.