At what rate percent will Rs. 700 amount to Rs. 868 in 3 years at simple interest?
- A. 6%
- B. 8% ✓
- C. 9%
- D. 10%
Correct answer
B. 8%
Explanation
SI = 868-700 = 168. Rate = (168 x 100)/(700 x 3) = 8%.
B. 8%
SI = 868-700 = 168. Rate = (168 x 100)/(700 x 3) = 8%.