Question
Download Solution PDFAt what rate percent on simple interest will Rs. 750 amount to Rs. 900 in 5 years?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal (P) = ₹750
Amount (A) = ₹900
Time (t) = 5 years
Formula used:
Simple Interest (SI) = A - P
SI = P × r × t / 100
Where, r = rate of interest
Calculations:
SI = 900 - 750
SI = 150
150 = 750 × r × 5 / 100
⇒ 150 = 3750r / 100
⇒ r = 4%
∴ The correct answer is option 1.
Last updated on Apr 10, 2025
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