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