A sum of Rs 12,500 amounts to Rs. 15,500 in the 4 years at the rate of simple interest. Find the rat

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29 Jun 2020 Simple Interest

A sum of Rs 12,500 amounts to Rs. 15,500 in the 4 years at the rate of simple interest. Find the rate percent

OPtion

1) 12
2) 8
3) 5
4) 6.5
5) 7.5
6) 6
7) 7
8) 8.5
9) 9
10) None of these

Solution

S.I.=P∗R∗T/100
=>R=(S.I.∗100)/(P∗T)


So, S.I = 15500 - 12500 = 3000.

=>R=3000∗100/(12500∗4)=6%

Correct Option: 6 Best Solution (6)