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?
A.0.03
B.0.04
C.0.05
D.0.06

Answer 1

Heya !

Here is your answer =>

Answer: option D 0.06 can be written as 6%

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

Rate = 100×3000÷ 12500×4 = 6%

Hope this helps you

Answer 2

15500 - 12500 = 3000₹

3000/4 = 750₹

750/12500 × 100 = 6% is rate