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    Question

    Find the rate of interest if amount after 2 years on simple interest on a capital of Rs 1000 is Rs 1200.

    A 5 percent Correct Answer Incorrect Answer
    B 20 percent Correct Answer Incorrect Answer
    C 10 percent Correct Answer Incorrect Answer
    D 15 percent Correct Answer Incorrect Answer

    Solution

    ATQ, we can say that SI = (P × R × T)/100 SI = (1000 × R × 2)/100 SI = 20R A = SI + P 1200 = 20R + 1000 200 = 20R R = 10% ∴ The rate of interest is 10%.

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