Question

69. A bank returns Rs. 3000 after 5 years on the deposit amount of Rs. 2000. What is per cent rate of simple interest? (A) 20% (B) 15% (C) 10% (D) 5%​

Answer 1

Amt. = ₹ 3000

n = 5 yrs

P = ₹ 2000

$intrest \: amount \: = \: amount \: - \: principal$

I = 3000 - 2000

= 1000 ₹

r = (i × 100) / (p × n)

(1000 × 100) / (2000 × 5) = 10%

rate of intrest = 10% p.a