issb mathematics MCQ #186

A sum of Rs 5000 earns simple interest of Rs 600 in 2 years. What is the rate per year?

issb mathematics MCQ #186

  1. Question 1

    Q1. A sum of Rs 5000 earns simple interest of Rs 600 in 2 years. What is the rate per year?

    • A) 4%
    • B) 5%
    • C) 6%
    • D) 8%

    Answer: 6%

    Explanation: Simple interest formula gives rate as interest times 100, divided by principal times time. That is 60000 divided by 10000, which is 6%.