At what rate percent will Rs. 8450 amount to Rs. 8957 in 2 years at simple interest?
- A. 5%
- B. 3% ✓
- C. 4%
- D. 2%
Correct answer
B. 3%
Explanation
SI = 8957-8450 = 507. Rate = (507 x 100)/(8450 x 2) = 3%.
B. 3%
SI = 8957-8450 = 507. Rate = (507 x 100)/(8450 x 2) = 3%.