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Mr. Sharma takes loan of Rs. 25000 and r...

Mr. Sharma takes loan of Rs. 25000 and repays an amount of Rs. 31000 at the end of 2 years What is the rate of simple interest at which he repays the loan ?

A

`8%` p.a

B

`6%` p.a

C

`12%` p.a

D

`9%` p.a

Text Solution

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The correct Answer is:
C
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Knowledge Check

  • If an amount of Rs 5,000 earned a simple interest of Rs 500 over 2years, what is the rate of simple interest?

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    A
    `2000,5%`
    B
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