A sum of ₹2,400 gives a simple interest of ₹378 in 2 years 4 months. What is the rate of interest per annum?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 6.75%.
SI =
Time(T) = 2 years 4 months = 2 + = 2 + =
378 =
R = = 6.75%