At what rate percent will Rs. 14700 amount to Rs. 18228 in 3 years at simple interest?
- A. 10%
- B. 7%
- C. 6%
- D. 8% ✓
Correct answer
D. 8%
Explanation
SI = 18228-14700 = 3528. Rate = (3528 x 100)/(14700 x 3) = 8%.
D. 8%
SI = 18228-14700 = 3528. Rate = (3528 x 100)/(14700 x 3) = 8%.