A sum of Rs. 9800 gives simple interest of Rs. 4704 in 6 years. What will be the rate of interest per annum?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 8%
| Understanding | Application |
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4704 = 9800 × R × 6/100 4704 × 100/9800 × 6 = R R = 8% |
SI = P × R × T/100 Where, P = Principal R = rate of interest T = Time |