At what rate percent will Rs. 4000 amount to Rs. 6400 in 5 years at simple interest?
- A. 11%
- B. 12% ✓
- C. 14%
- D. 10%
Correct answer
B. 12%
Explanation
SI = 6400-4000 = 2400. Rate = (2400 x 100)/(4000 x 5) = 12%.
B. 12%
SI = 6400-4000 = 2400. Rate = (2400 x 100)/(4000 x 5) = 12%.