Question

An amount becomes Rs.11,300 in 2 years and Rs. 12,600 in 4 years. The rate, if calculated at simple interest is:

• A. 13%
• B. 10.5%
• C. 6.5%
• D. 8.5%

Answer 1

Answer:

C. 6.5%

SI for 2 years =12600-11300=1300 P=11300-1300=10000 R = (1x100)/PN =(100x1300)/(10000x2) = 13/2 = 6.5%