WBCS.LIVE practice question

A sum of Rs. 25000 amount to Rs. 31500 in 4 years at a certain rate of simple interest. What is the rate of interest?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 6.5%
  2. 5.5%
  3. 3.5%
  4. 4.5%

Correct answer and explanation

Correct answer: 6.5%