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
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%
Explanation: S.I. = Rs. (15500 - 12500) = Rs. 3000.