A) 3%
B) 4%
C) 5%
D) 6%
Correct Answer: D
Solution :
Let rate of interest = r% then, Amount=\[sum\,\,\left( \frac{rt}{100}+1 \right)\] \[15500=12500\,\,\left( \frac{r\times 4}{100}+1 \right)\] \[\frac{r\times 4}{100}=\frac{15500}{12500}-1\] \[\frac{r\times 4}{100}=\frac{3000}{12500}\] \[r=\frac{3000\times 100}{12500\times 4}\] \[r=6%\]You need to login to perform this action.
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