Go To Your Study Dashboard

Get Answers to all your Questions

header-bg

A person invested a sum of Rs.750 in a bank at simple interest. After 5 years he received Rs.1200. Find the rate of interest offered by the bank.

Option 1)

10% p.a

Option 2)

11% p a

Option 3)

14% p a

Option 4)

12% p.a

Option 5)

20% p.a

Answers (1)

best_answer

$1200 -750 = 450$

$450 = \frac{\left \{ 750\times 5\times R \right \}}{100}= R = \frac{900}{75}$

$= 12$ %

Posted by

rishi.raj

View full answer

Similar Questions

Latest Question

A sum of money under compound interest doubles itself in 4 years. In how many years will it become 16 times itself? Option: 1 1
A certain loan amounts, under compound interest, compounded annually earns an interest of Rs.1980 in the second year and Rs.2178 in the third year. How much interest did it earn in the first year?<