A sum of Rs. 3000 amounts to Rs. 9000 in 4 years at the rate of simple interest.
A sum of Rs. 3000 amounts to Rs. 9000 in 4 years at the rate of simple interest. What is the rate of interest?
Answer/Solution
50%
Steps/Work
S.I. = (9000 - 3000) = Rs. 6000
Rate = (100 * 6000) / (3000* 4)
= 50%
Answer: E
Rate = (100 * 6000) / (3000* 4)
= 50%
Answer: E