Simple & Compound Interest · Question 18 · Easy
₹12,000 amounts to ₹15,600 in 3 years at simple interest. What is the rate of interest per annum?
- 10%
- 12%
- 9%
- 30%
Answer and explanation
Answer: A. 10%
Explanation: SI = 15,600 − 12,000 = ₹3,600. Rate = 3600 × 100/(12000 × 3) = 10%.
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