A sum of Rs 12500 amounts to Rs. 15500 in the 4 years at the rate of simple interest. Find the rate percent?

A) 6%

B) 7%

C) 8%

D) 9%

Invested amount = 12500

Time = 4 years

Amount of money got after 4 years = 15500

(15500 – 12500) = Rs. 3000. Rate = ( 100 X 3000/12500 X 4 ) % = 6%.

Therefore he earned 6 % in given time.

Related MCQs:
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