Multiple choice

A sum of $Rs.3000$ amount to $Rs.40000$ in 2 years at .............. rate of interest?

  1. $16.6$%
  2. $18$%
  3. $17.6$%

  4. None
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A Correct answer
AI explanation

Using the simple interest formula where the principal is 3000 and the amount is 4000, the interest earned is 1000. Substituting into 1000 = (3000 * R * 2) / 100 gives R = 100 / 6 = 16.6%. The correct rate is 16.6%.

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