A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple inter

Question

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

Options:

A . 3%

B . 4%

C . 5%

D . 6%

Answer: Option D

S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate = \(\left(\frac{100\times3000}{12500}\times4\right)\) % = 6%

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