Question

What is the rate of simple interest per annum if, Rs 1000 amounts to Rs 1900 in 3 years?

• A. 30%
• B. 3%
• C. 25%
• D. 300%

Answer 1

The correct option is A

30%

Here,

Time = 3 years

Amount = Rs. 1900

Principal = Rs. 1000

Interest = Amount - Prinicpal = 1900 - 1000 = Rs. 900

The rate of interest =?

We know that,

$S.I=\frac{P\times R\times T}{100}$

$900=\frac{1000\times R\times 3}{100}$

$\Rightarrow R=\frac{900\times 100}{1000\times 3}$

$\therefore R=30$

The simple interest rate is 30%.