At what rate percent will Rs. 6700 amount to Rs. 9045 in 5 years at simple interest?
- A. 5%
- B. 8%
- C. 6%
- D. 7% ✓
Correct answer
D. 7%
Explanation
SI = 9045-6700 = 2345. Rate = (2345 x 100)/(6700 x 5) = 7%.
D. 7%
SI = 9045-6700 = 2345. Rate = (2345 x 100)/(6700 x 5) = 7%.