At what rate percent will Rs. 2950 amount to Rs. 3982 in 5 years at simple interest?
Difficulty: Medium
About this MCQ
Medium interest Mcqs item. Correct choice: D. 7%.
- A. 6%
Why not A: “6%” is not 7%.
- B. 8%
Why not B: “8%” is not 7%.
- C. 9%
Why not C: “9%” is not 7%.
- D. 7% ✓
Correct answer
D. 7%
Explanation
7% (option D) is the accepted answer to “At what rate percent will Rs. 2950 amount to Rs. 3982 in 5 years at simple interest”. Option A (6%) is a different value from 7%. Option B (8%) is a different value from 7%. Option C (9%) is a different value from 7%. Keep 7% as the interest Mcqs fact for this stem.
Source: FPSC/NTS Generated Practice Set
Tags: FPSC, NTS, Interest
Submitted by: MCQsHub Editorial
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