A sum of Rs. $4{,}000$ amounts to Rs. $4{,}840$ in $2$ years at simple interest. The rate is
A sum of Rs. $4{,}000$ amounts to Rs. $4{,}840$ in $2$ years at simple interest. The rate is
- $8\%$
- $10\%$
- $10.5\%$
- $12\%$
Solution
SI $= 4840 - 4000 = 840$. $R = \dfrac{100 \cdot 840}{4000 \cdot 2} = \dfrac{84000}{8000} = 10.5\%$.
Asked in: IMO
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