Question

The amount of simple interest accrued on an amount of Rs 28,500 in seven years is Rs 23,940 What is the rate of interest p.c.p.a ?

A) 10.5 B) 12.5 C) 11 D) 12

Answer 1

Answer:

HEY MATE

Simple Interest = S.I= pnr/100

Given, S.I = 23940 , p = 28500 ,

n = 7

thus, r = 100x23940/28500x7 = 12

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