If a person receives 960 as interest over 4 years at a rate… | Applied Mathematics - Simple Interest (problems based on basic information) – Math | Vijayee Scholarship App

Math

Applied Mathematics - Simple Interest (problems based on basic information)

MCQ

If a person receives 960 as interest over 4 years at a rate of 8%, what is the principal amount?

A

Rs.2500

B

Rs.3000

C

Rs.3500

D

Rs.4000

Explanation

(960×100)/(8×4)=3000

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