At what rate percent will Rs. 12500 amount to Rs. 15500 in 3 years at simple interest?
- A. 8% ✓
- B. 10%
- C. 9%
- D. 6%
Correct answer
A. 8%
Explanation
SI = 15500-12500 = 3000. Rate = (3000 x 100)/(12500 x 3) = 8%.
A. 8%
SI = 15500-12500 = 3000. Rate = (3000 x 100)/(12500 x 3) = 8%.