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 = ( 100 X 3000/12500 X 4 )% = 6%.

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