If the ratio of principal and the simple interest after 5 years is 4 : 3, then the rate of interest p.a. is:
Answer & explanation
Correct answer: option 4
Total interest \(\Rightarrow \) \(\frac{3}{4}\) × 100 = 75%
Total Interest = Rate p.a. × time
75% = Rate p.a × 5years
Rate p.a. = 15%