Simple Interest Ques 12
Question-
A sum of ₹ 3200 becomes ₹ 3456 in two years at a certain rate of simple interest. What is the rate of interest per annum?
(1) $5.5 \%$
(2) $6 \%$
(3) $4 \%$
(4) $4.5 \%$
(5) None of these
(Indian Overseas Bank PO Online Exam. 01.09.2013)
Show Answer
Correct Answer: (3)
Solution: (3)
Interest $=3456-3200$ $= \text{₹} 256$
$\therefore$ Rate $=\frac{\text { S.I. } \times 100}{\text { Principal } \times \text { Time }}$ $=\frac{256 \times 100}{3200 \times 2}=4 \%$ per annum
BETA
