Which among the following rate of interest yields an interest of Rs – InterviewSolution

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1.

Which among the following rate of interest yields an interest of Rs 200 for the principle of Rs 2,000 for one year. (i) 10% (ii) 20% (iii) 5% (iv) 15%

Answer»

(i) 10%

r = \(\frac{I\times100}{P\times\,n}\)

= \(\frac{200\times100}{2000\times1}\)

= 10 %

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