Thursday, April 11, 2013

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

A. 3%
B. 4%
C. 5%
D. 6%
Answer: D

Explanation:

S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate = (100 x 3000/12500 x 4)% = 6%

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