Question

    The rate of simple interest for which ₹12,000 will

    amount to ₹14,400 in 5 years is:
    A 4% Correct Answer Incorrect Answer
    B 9% Correct Answer Incorrect Answer
    C 6% Correct Answer Incorrect Answer
    D 10% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ;
    Simple interest = 14,400 - 12,000 = ₹2,400

    Rate% = (2,400 × 100) / (12,000 × 5) = 240,000 / 60,000 = 4%

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