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? 5% 4% 3% none of these 6%

Answer 1

Answer:

answer is 6%

Explanation:

use formula

amount=principal +simple Intrest

15500=. 12500+ simple Intrest

simple Intrest= 15500-12500

3000

simple Intrest =p×r×t/100

3000= 12500×r×4/100

3000= 50000r/100

3000×100 =50000r

r = 300000/50000

r = 6%