alleryStart learning →₹5,000 earns ₹600 simple interest in 2 years. What is the annual rate?
A6%
B12%
C24%
D3%
Answer & Solution
Correct answer: A. 6%
The annual interest is ₹300, which is 300 ÷ 5000 × 100 = 6% of the principal.
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