Question 71

₹ 775, invested for 6 years gives an interest of ₹ 372. The rate of simple interest per annum is:

Solution

$$Simple Interest =\frac{Principal \times Rate\times Time}{100}$$

$$372=\frac{775 \times R \times 6}{100}$$

$$R=\frac{100\times372}{775\times6}$$

$$R=8\%$$

Option A is correct.

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