Home › CLAT › quantitativetechniques › Quantitative Techniques › ₹2000 earns ₹300 in simple interest over 3 years…
₹2000 earns ₹300 in simple interest over 3 years. The annual rate of interest is:
A5%
B6%
C15%
D10%
Answer & Solution
Correct answer: A. 5%
300 = 2000 × R × 3/100 ⟹ R = 300×100/6000 = 5%.
Related questions
A candidate's vote share rises from 40% to 50% of the total votes. Relative to his earlierSuccessive discounts of 20% and 10% are given on a marked price of ₹1000. The final price Two numbers are in the ratio 3 : 5 and their sum is 64. The larger number is:A basket holds 100 fruits — 40 apples, 30 oranges and 30 bananas. The number of apples is A town with a population of 8000 grows 5% in the first year and 5% in the second. Its popuAn article is sold for ₹660 at a profit of 10%. Its cost price was:An item costing ₹200 is marked 25% above cost and then sold at a 10% discount. The profit For ₹5000 at 10% per annum for 2 years, the compound interest exceeds the simple interest