At what rate percent will Rs. 12600 amount to Rs. 20160 in 5 years at simple interest?
- A. 10%
- B. 12% ✓
- C. 13%
- D. 14%
Correct answer
B. 12%
Explanation
SI = 20160-12600 = 7560. Rate = (7560 x 100)/(12600 x 5) = 12%.
B. 12%
SI = 20160-12600 = 7560. Rate = (7560 x 100)/(12600 x 5) = 12%.