A sum of Rs. 14000 amounts to Rs. 16000 in 4 years at the rate of simple interest. What is the rate of interest?

Options
- 3.5%
- 3.4%
- 3.6%
- 3.7%

CORRECT ANSWER : 3.5%

Discussion Board
Solution

Here SI=16000-14000 =2000. Rate of interest =2000*100/14000*4 =25/7 =3.5%

Anilaraj 10-21-2019 12:13 AM

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