At what rate percent will Rs. 500 amount to Rs. 675 in 5 years at simple interest?
Difficulty: Medium
About this MCQ
Medium interest Mcqs item. Correct choice: A. 7%.
- A. 7% ✓
- B. 9%
Why not B: “9%” is not 7%.
- C. 6%
Why not C: “6%” is not 7%.
- D. 8%
Why not D: “8%” is not 7%.
Correct answer
A. 7%
Explanation
7% (option A) is the accepted answer to “At what rate percent will Rs. 500 amount to Rs. 675 in 5 years at simple interest”. Option B (9%) is a different value from 7%. Option C (6%) is a different value from 7%. Option D (8%) 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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