Exams › SSC CGL (Prelims) › Maths
If the simple interest on ₹10,000 for 4 years is ₹4,000, what is the rate of interest per annum?
- 8%
- 10%
- 12%
- 5%
Correct answer: 10%
Solution
Using the formula $SI = \frac{PRT}{100}$, we get $4000 = \frac{10000 \times R \times 4}{100}$. Solving gives $R = 10\%$.
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