At what rate percent will Rs. 7000 amount to Rs. 7840 in 4 years at simple interest?
Difficulty: Medium
About this MCQ
Medium interest Mcqs item. Correct choice: B. 3%.
- A. 4%
Why not A: “4%” is not 3%.
- B. 3% ✓
- C. 5%
Why not C: “5%” is not 3%.
- D. 2%
Why not D: “2%” is not 3%.
Correct answer
B. 3%
Explanation
3% (option B) is the accepted answer to “At what rate percent will Rs. 7000 amount to Rs. 7840 in 4 years at simple interest”. Option A (4%) is a different value from 3%. Option C (5%) is a different value from 3%. Option D (2%) is a different value from 3%. Keep 3% 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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