Rs. 58750 amounts to Rs. 79900 in four years at simple interest. What is the rate of interest paid? Options: A . &nbsp14 B . &nbsp13 C . &nbsp12 D . &nbsp16 E . &nbsp9

Rs. 58750 amounts to Rs. 79900 in four years at simple interest. What is the ra

Question

Rs. 58750 amounts to Rs. 79900 in four years at simple interest. What is the rate of interest paid?

Answer: Option E

S. I. = 79900-58750

= Rs. 21150

Rate = (S.I * 100)/(Principal * Time)

= (21150 * 100)/(58750 * 4)

= 9% per annum

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