Exams › SSC CGL (Prelims) › General
At what rate of simple interest per annum will ₹5,000 amount to ₹6,500 in 3 years?
- 8%
- 10%
- 12%
- 15%
Correct answer: 10%
Solution
The simple interest is \(6500-5000=1500\). Using \(SI=\frac{PRT}{100}\), we get \(1500=\frac{5000\times R\times 3}{100}\), so \(R=10\%\).
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