At what rate percent will Rs. 12350 amount to Rs. 13091 in 2 years at simple interest?
- A. 3% ✓
- B. 5%
- C. 4%
- D. 2%
Correct answer
A. 3%
Explanation
SI = 13091-12350 = 741. Rate = (741 x 100)/(12350 x 2) = 3%.
A. 3%
SI = 13091-12350 = 741. Rate = (741 x 100)/(12350 x 2) = 3%.