A sum of Rs. 125000 amounts to Rs. 15000 in 4 years at the rate of simple interest.
A sum of Rs. 125000 amounts to Rs. 15000 in 4 years at the rate of simple interest. What is the rate of interest?
Answer/Solution
5%
Steps/Work
S.I. = (15000 - 12500) = Rs. 2500\
Rate = (100 * 2500) / (12500 * 4) = 5%
ANSWER:C
Rate = (100 * 2500) / (12500 * 4) = 5%
ANSWER:C