The simple interest on ₹4,500 for 4 years is ₹1,440. What is the rate of interest per annum?
A. 8%
B. 9%
C. 7%
D. 6%
A. 8%
B. 9%
C. 7%
D. 6%
Best answer
Answer: A. 8%
Answer: (A) 8%
R = \(\frac{SI \times 100}{P \times T} = \frac{1440 \times 100}{4500 \times 4} = 8\%\).
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