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A sum of Rs.
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%
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Simple interest = 27250 – 25000 = 2250
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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