Question

If Rs. 16000 amounts to Rs. 17200 in 3 years, then the rate of interest is .....

• A. 4%
• B. 2.5%
• C. 6%
• D. 7%

Answer 1

Answer:

B. 2.5%

Interest=17200-16000=1200 R-(Interest x 100)/ (Principal x N) =(1200 x 100) /(16000 x 3) =2.5%