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Question 1:
A sum of Rs. 25000 becomes Rs. 27250 at the end of 3 years when calculated at simple interest. Find the rate of interest. A. 2%
B. 3%
Feedback Simple interest = 27250 – 25000 = 2250
Time = 3 years.
SI = PTR / 100 ? R = SI * 100 / PT
R = 2250 * 100 / 25000 * 3 ? R = 3%.
Time = 3 years.
SI = PTR / 100 ? R = SI * 100 / PT
R = 2250 * 100 / 25000 * 3 ? R = 3%.
C. 4%
D. 5%
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