At what rate percent will Rs. 7950 amount to Rs. 8904 in 3 years at simple interest?
- A. 5%
- B. 4% ✓
- C. 6%
- D. 3%
Correct answer
B. 4%
Explanation
SI = 8904-7950 = 954. Rate = (954 x 100)/(7950 x 3) = 4%.
B. 4%
SI = 8904-7950 = 954. Rate = (954 x 100)/(7950 x 3) = 4%.