Simple & Compound Interest · Question 5 · Easy
At what rate of simple interest will ₹2,400 earn ₹576 as interest in 3 years?
- 6%
- 8%
- 7%
- 9%
Answer and explanation
Answer: B. 8%
Explanation: R = SI × 100 / (P × T) = 576 × 100 / (2,400 × 3) = 8% per annum.
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