Simple Interest Practice Test 2

Question : 40 of 40

Marks: +1, -0

At what rate of simple interest will Rs 4,800 amounts to Rs 6,480 in a span of 7 years?

Solution:

Amount = Rs 6,480; P = Rs 4,800, T = 7 years
SI = 6,480 - 4,800 = Rs 1,680
Rate of interest

={SI×100}/{P×T}

={1680×100}/{4800×7}=5%

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