At what rate percent will Rs. 14700 amount to Rs. 16464 in 2 years at simple interest?
- A. 5%
- B. 7%
- C. 6% ✓
- D. 8%
Correct answer
C. 6%
Explanation
SI = 16464-14700 = 1764. Rate = (1764 x 100)/(14700 x 2) = 6%.
C. 6%
SI = 16464-14700 = 1764. Rate = (1764 x 100)/(14700 x 2) = 6%.