Multiple choice

Deepak invested Rs. 21250 for 6 years. At what rate of simple interest he will obtain an amount of Rs.26350 at the end of 6 years?

  1. 6%

  2. 5%

  3. 8%

  4. 12%

  5. 4%
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Interest earned = 26350 - 21250 = 5100. Using SI = P×R×T/100: 5100 = 21250×R×6/100. Solving: R = 5100/1275 = 4%. Common mistake: forgetting to subtract principal from amount first.

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