At what rate percent will Rs. 4400 amount to Rs. 5500 in 5 years at simple interest?
- A. 4%
- B. 7%
- C. 5% ✓
- D. 6%
Correct answer
C. 5%
Explanation
SI = 5500-4400 = 1100. Rate = (1100 x 100)/(4400 x 5) = 5%.
C. 5%
SI = 5500-4400 = 1100. Rate = (1100 x 100)/(4400 x 5) = 5%.