A) 5%
B) 6%
C) 4%
D) None of these
Correct Answer: B
Solution :
Let the sum of money be Rs x. Then, simple interest \[=\frac{3}{8}x\] Also, time \[=6\frac{1}{4}\] yr, i.e., \[\frac{25}{4}\] yr \[\therefore \] Rate \[(R)=\frac{100\times SI}{P\times T}=\frac{100\times \frac{3x}{8}}{x\times \frac{24}{4}}=\frac{100\times 3}{2\times 25}=6%\]You need to login to perform this action.
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