Mr. Rakesh has Rs. 90,000 in a savings account that earns

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KPTCL Assistant Exam (Mescom) SLOT1 2017 click here to view all questions

Mr. Rakesh has Rs. 90,000 in a savings account that earns him an interest of Rs. 5400 after two years. What is the rate of interest?

A2%

B5%

C3%

D10%

prakash ? Jan 6 '2020 at 10:21

Correct answer is: 3%

Explanation:

P = Rs. 90,000 , S.I. = Rs. 5400, Time = 2 years

Therefore

Now, \(R = \frac{ 100 × S.I}{P × R}\)

= \(\frac{100 × 5400}{90000 × 2} \)

= \(\frac{54}{9 \times 2}\)

= \(\frac{54}{18}\)

= 3% p.a.

All DiscussionsClick here to write answer

Correct answer is: 3% Explanation: P = Rs. 90,000 , S.I. = Rs. 5400, Time = 2 years Therefore Now, \(R = \frac{ 100 × S.I}{P × R}\) = \(\frac{100 × 5400}{90000 × 2} \) = \(\frac{54}{9 \times 2}\) = \(\frac{54}{18}\) = 3% p.a. prakash ? answered Jan 6 '2020 at 10:21 All Comments

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