?
At what rate of simple interest per annum can an amount of Rs. 1553.40 be obtained on the principal amount of Rs. 8630 after 3 years?
Answer & Solution
Correct Answer:
Option
E
$$\eqalign{
& {\text{P}} = {\text{Rs.}}{\text{ 8630}} \cr
& {\text{S}}{\text{.I}}{\text{.}} = {\text{Rs.}}{\text{ 1553}}{\text{.40}} \cr
& {\text{T}} = {\text{3 years}} \cr
& \therefore {\text{Rate}} \cr
& = \left( {\frac{{100 \times 1553.40}}{{8630 \times 3}}} \right)\% \cr
& = 6\% \cr} $$
Join the Discussion
Login to post a comment or share your explanation.
Login