Find the simple interest rate per annum if Rs. 500 yields Rs. 100 interest in 4 years.
A4%
B5%
C6%
D8%
Explanation
SI = (P * R * T) / 100 => 100 = (500 * R * 4) / 100 => 100 = 20 * R => R = 5%.
Exam Relevance
- Topic: Interest
- Subtopic: Simple Interest
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