At what rate percent will Rs. 14850 amount to Rs. 20196 in 3 years at simple interest?
- A. 14%
- B. 15%
- C. 10%
- D. 12% ✓
Correct answer
D. 12%
Explanation
SI = 20196-14850 = 5346. Rate = (5346 x 100)/(14850 x 3) = 12%.
D. 12%
SI = 20196-14850 = 5346. Rate = (5346 x 100)/(14850 x 3) = 12%.