At what rate percent will Rs. 5000 amount to Rs. 6000 in 4 years at simple interest?
- A. 4%
- B. 5% ✓
- C. 7%
- D. 6%
Correct answer
B. 5%
Explanation
SI = 6000-5000 = 1000. Rate = (1000 x 100)/(5000 x 4) = 5%.
B. 5%
SI = 6000-5000 = 1000. Rate = (1000 x 100)/(5000 x 4) = 5%.