At what rate percent will Rs. 12700 amount to Rs. 15240 in 2 years at simple interest?
- A. 9%
- B. 8%
- C. 10% ✓
- D. 11%
Correct answer
C. 10%
Explanation
SI = 15240-12700 = 2540. Rate = (2540 x 100)/(12700 x 2) = 10%.
C. 10%
SI = 15240-12700 = 2540. Rate = (2540 x 100)/(12700 x 2) = 10%.