Question

    Find the simple interest rate per annum if a person

    invested ₹5,000 for two years and received ₹5,600 at the end of two years
    A 8% Correct Answer Incorrect Answer
    B 18% Correct Answer Incorrect Answer
    C 12% Correct Answer Incorrect Answer
    D 6% Correct Answer Incorrect Answer

    Solution

    ATQ, Let the rate of interest be R. Given, amount at the end of first year = ₹5600. Interest = Amount - Principal = ₹5600 - ₹5000 = ₹600. Interest = (P×R×T)/100 = 600 = (5000×R×2)/100 = 6%  

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