At what rate percent will Rs. 5300 amount to Rs. 6360 in 4 years at simple interest?
- A. 6%
- B. 4%
- C. 5% ✓
- D. 7%
Correct answer
C. 5%
Explanation
SI = 6360-5300 = 1060. Rate = (1060 x 100)/(5300 x 4) = 5%.
C. 5%
SI = 6360-5300 = 1060. Rate = (1060 x 100)/(5300 x 4) = 5%.