At what rate percent will Rs. 3350 amount to Rs. 3618 in 2 years at simple interest?
- A. 3%
- B. 6%
- C. 5%
- D. 4% ✓
Correct answer
D. 4%
Explanation
SI = 3618-3350 = 268. Rate = (268 x 100)/(3350 x 2) = 4%.
D. 4%
SI = 3618-3350 = 268. Rate = (268 x 100)/(3350 x 2) = 4%.