If the ratio of principal and the simple interest for 5 years is 10 : 3, then the rate of interest p.a. is:
Answer & explanation
Correct answer: option 2
Total interest \(\Rightarrow \) \(\frac{3}{10}\) × 100 = 30%
Total Interest = Rate p.a. × time
30% = Rate p.a × 5yrs
Rate p.a. = 6%