At what rate percent will Rs. 12950 amount to Rs. 18778 in 5 years at simple interest?
- A. 10%
- B. 8%
- C. 9% ✓
- D. 7%
Correct answer
C. 9%
Explanation
SI = 18778-12950 = 5828. Rate = (5828 x 100)/(12950 x 5) = 9%.
C. 9%
SI = 18778-12950 = 5828. Rate = (5828 x 100)/(12950 x 5) = 9%.