At what rate of simple interest, a sum of ₹1,800 will become ₹2,700 in 10 years?
Answer & explanation
Correct answer: option 4
P = Rs. 1800, r = ? and time = 10 years ,
Amount = 2700
Interest = 2700 - 180 = 900
As we know,
900 = (Prt/100)
900 = (1800 × r × 10)/100
r = 5%