Question

At what rate percent per annum on simple interest will ₹760 amount to ₹912 in 5 years?

• A. 5%
• B. 3%
• C. 4%
• D. 6%

Answer 1

Answer:

C. 4%

Given:

• Principal (P = 760)

• Amount (A = 912)

• Time (T = 5) years

  Find Simple Interest

$SI = A - P = 912 - 760 = 152$

Use SI formula

$SI = \frac{P \times R \times T}{100}$

$152 = \frac{760 \times R \times 5}{100}$

$152 = 38R$

$R = \frac{152}{38} = 4$

Final Answer: 4% per annum