A sum of Rs. 2500 amounts to Rs. 3875 in 4 years at the rate of simple interest. What is the rate of interest?
Correct Answer: D. 13.75% Simple Interest, SI = (3875 – 2500) = Rs.1375 Principal, P = Rs. 2500 Time, T = 4 years R = ? R=100×SI/PT=100×13752/500×4 =100×1375/10000=13.75%
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