A sum 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%4%5%6%None of these

Question

A sum 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%4%5%6%None of these
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Solution 1

To find the rate of interest, we can use the formula for simple interest which is I = PRT/100, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time.

Here, the principal amount (P) is Rs. 12,500, the interest (I) is the difference between the final amount Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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