At what rate percent will Rs. 3550 amount to Rs. 4686 in 4 years at simple interest?
- A. 9%
- B. 8% ✓
- C. 6%
- D. 10%
Correct answer
B. 8%
Explanation
SI = 4686-3550 = 1136. Rate = (1136 x 100)/(3550 x 4) = 8%.
B. 8%
SI = 4686-3550 = 1136. Rate = (1136 x 100)/(3550 x 4) = 8%.