At what rate percent will Rs. 14900 amount to Rs. 20264 in 3 years at simple interest?
- A. 10%
- B. 13%
- C. 12% ✓
- D. 11%
Correct answer
C. 12%
Explanation
SI = 20264-14900 = 5364. Rate = (5364 x 100)/(14900 x 3) = 12%.
C. 12%
SI = 20264-14900 = 5364. Rate = (5364 x 100)/(14900 x 3) = 12%.