At what rate percent will Rs. 12400 amount to Rs. 16120 in 5 years at simple interest?
- A. 6% ✓
- B. 7%
- C. 8%
- D. 5%
Correct answer
A. 6%
Explanation
SI = 16120-12400 = 3720. Rate = (3720 x 100)/(12400 x 5) = 6%.
A. 6%
SI = 16120-12400 = 3720. Rate = (3720 x 100)/(12400 x 5) = 6%.