Question:
A certain sum of money on simple interest amounts to 1,278 in 3 years and to 1,593 in \(5\frac 12\) years. Find the rate of interest per annum.
A certain sum of money on simple interest amounts to 1,278 in 3 years and to 1,593 in \(5\frac 12\) years. Find the rate of interest per annum.
Updated On: Aug 20, 2024
- 13%
- 14%
- 15.5%
- 16%
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The Correct Option is B
Solution and Explanation
The correct option is (B): 14%.
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