At what rate percent will Rs. 2900 amount to Rs. 3422 in 2 years at simple interest?
- A. 7%
- B. 9% ✓
- C. 8%
- D. 10%
Correct answer
B. 9%
Explanation
SI = 3422-2900 = 522. Rate = (522 x 100)/(2900 x 2) = 9%.
B. 9%
SI = 3422-2900 = 522. Rate = (522 x 100)/(2900 x 2) = 9%.