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Railways PYQCBT 2 2017

RRB NTPC · Question 92

The simple interest on a deposit of Rs. 8,500 for 3 years is Rs. 2,040. Find the rate of interest per annum.

  1. 8%

  2. 8.5%

  3. 9%

  4. 7.5%

Show answer & explanation

Answer: (A) 8%

Explanation

Rate = SI × 100/(P × T) = 2040 × 100/(8500 × 3) = 8% per annum.