The simple interest on ₹ 10,000 in 3 years is ₹3000. What is the rate of interest?

12%

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10%

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15%

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None of the above

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Solution

The correct option is B 10%
Given
P= ₹ 10,000
S.I = ₹ 3000
T =3 years
Let the rate of interest be R
We know that
S.I = $\frac{P \times R \times T}{100}$
Hence 3000= $\frac{10, 000 \times R \times 3}{100}$
R= $\frac{3000 \times 100}{10, 000 \times 3}$
R= 10%

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The simple interest on ₹ 10,000 in 3 years is ₹3000. What is the rate of interest?

The correct option is B 10%Given P= ₹ 10,000 S.I = ₹ 3000 T =3 years Let the rate of interest be R We know that S.I = P×R×T100 Hence 3000= 10,000×R×3100 R= 3000×10010,000×3 R= 10%

The correct option is B 10%
Given
P= ₹ 10,000
S.I = ₹ 3000
T =3 years
Let the rate of interest be R
We know that
S.I = $\frac{P \times R \times T}{100}$
Hence 3000= $\frac{10, 000 \times R \times 3}{100}$
R= $\frac{3000 \times 100}{10, 000 \times 3}$
R= 10%