A) \[5\frac{1}{2}%\]
B) 8%
C) 7%
D) 6%
Correct Answer: C
Solution :
Given that P = Rs. 1600, SI = Rs. 252 and t = 2 yr and 3 month \[=2\frac{1}{4}\,\,yr\] \[\therefore \] \[252=\frac{1600\times r\times 9}{100\times 4}\] \[\Rightarrow \] \[\,r=\frac{252\times 100\times 4}{1600\times 9}=7\] Required rate of interest = 7%You need to login to perform this action.
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