CUET Preparation Today
A sum of Rs 11500 amounts to Rs 12880 in 2 years at the rate of simple interest. What is the rate of interest? |
6% per annum 4% per annum 8% per annum 10% per annum |
6% per annum |
SI = Amount - Principal = 12880 - 11500 = 1380 We know, SI = $\frac{PRT}{100}$ 1380 = $\frac{11500 \times R \times 2}{100}$ R = 6% per annum |
