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    Question

    A sum of money amounts to ₹13,200 after 3 years at a

    certain simple interest rate. If the principal was ₹10,000, what was the rate of interest per annum?
    A 8.67% Correct Answer Incorrect Answer
    B 7.5% Correct Answer Incorrect Answer
    C 10.67% Correct Answer Incorrect Answer
    D 6% Correct Answer Incorrect Answer

    Solution

    Simple Interest = Amount - Principal = 13,200 - 10,000 = 3,200 SI = Principal * Rate * Time / 100 3,200 = 10,000 * Rate * 3 / 100 Rate = (3,200 * 100) / (10,000 * 3) = 10.67%

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