The bar graph given below shows the per annum rate of interest offered on the 5 given simple interest investment schemes.
Simple Interest = [(Principal × Annual Rate of Interest × Time period)/100]
Principal and time period of investment in all the given schemes is same. Which scheme will give maximum simple interest?
Show answer & explanation
Correct answer: A
Explanation
Given:
P = 6%, Q = 2%, R = 8%, S = 4%, T = 5%
The principal and time are the same.
P → 6
Q → 2
R → 8
S → 4
T → 5
Maximum Value = 8 (R)