📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Rs. 15,000 becomes Rs. 21,900 after 6 years on simple

      interest. What is the rate of interest per annum?
      A 18.19 Correct Answer Incorrect Answer
      B 11.22 Correct Answer Incorrect Answer
      C 7.67 Correct Answer Incorrect Answer
      D 20.11 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Interest earned = 21,900 - 15,000 = Rs. 6,900

      Simple interest = Principal × rate × time ÷ 100

      So, 6,900 = 15,000 × rate × 6 ÷ 100

      Or, 6,900 = 900 × rate

      Or, rate = 7.67

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question