A sum amounts to Rs. 2,928 in 4 years and Rs. 3,060 in 5 years at simple interest. Find the annual rate.

Type: MCQ • Marks: 1

A. 5

B. 5.5

C. 4

D. 6

Explanation

Yearly SI=132. Principal=2928-4×132=2400. Rate=132×100/2400=5.5%.

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UP TGT Mathematics

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