Simple Interest Practice Test 4

Question : 24 of 26

Marks: +1, -0

Ms. Nilam deposits an amount of Rs. 16420 and obtained Rs. 25451 at the end of 5 years. What was the rate of interest per year?

Solution:

I = 25451 – 16420 = Rs. 9031,

R ={9031 ×100}/16420× 5=11%

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