At what rate percent will Rs. 12800 amount to Rs. 15488 in 3 years at simple interest?
- A. 7% ✓
- B. 5%
- C. 6%
- D. 8%
Correct answer
A. 7%
Explanation
SI = 15488-12800 = 2688. Rate = (2688 x 100)/(12800 x 3) = 7%.
A. 7%
SI = 15488-12800 = 2688. Rate = (2688 x 100)/(12800 x 3) = 7%.