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    Question

    Anandi bought a smart watch from an electronic store for

    Rs.4,400. Since she had less money, she paid Rs.2,000 for down payment and the shopkeeper offered her an alternative to pay Rs.2,440 after 1 month. Find the rate of interest being charged at simple interest by the shopkeeper in this installment option?
    A 20% Correct Answer Incorrect Answer
    B 10% Correct Answer Incorrect Answer
    C 22% Correct Answer Incorrect Answer
    D 15% Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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