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Interest obtained on a sum of Rs 5000 for 3 years...

This question belongs to Arithmetic Ability Interest
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Interest obtained on a sum of Rs. 5000 for 3 years is Rs. 1500. Find the rate percent.

Answer & Solution
Correct Answer: Option C
$$\eqalign{ & {\text{Let rate is }}R\% \cr & {\text{We have}}, \cr & I = \frac{{PTR}}{{100}} \cr & {\text{Here}},1500 = \frac{{5000 \times 3 \times R}}{{100}} \cr & {\text{Thus}},R = 10\% \cr} $$
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