Multiple Choice Questions on A amount of Rs 12 500 amounts to Rs 15 500 in 4 years at the rate of simple interest What is th........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A amount of Rs 12 500 amounts to Rs 15 500 in 4 years at the rate of simple interest What is th...........

Quantitative Aptitude ( CCS) Simple Interest
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    A amount of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

    3%

    Incorrect Answer

    4%

    Incorrect Answer

    5%

    Incorrect Answer

    6%

    Correct Answer
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    Explanation:

    S.I. = Rs. (15500 - 12500) = Rs. 3000

    Rate = 100 x 3000 /12500 x 4 = 6%

    Hence, option 4 is the correct answer.

    By: Amit Kumar
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