If principal is Rs 3,000 time is 10 years and simple interest is Rs 1,200 then rate of interest and Amount are
A. 4% and rs 5200
B. 5%and Rs 4200
C. 3%and Rs 4200
D. 4% and Rs 4200
Answer: Option D
Solution (By Examveda Team)
Rs 1200/10 = Rs 120 per year interestInterest rate = 120/3000 × 100 = 4%
Sum = 3000 + 1200 = Rs 4200
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