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Simple Interest #11

11. A sum of $₹14,000$ amounts to $₹22,400$ in $12$ years in simple interest. What is the rate of interest?
A. $7\%$B. $6\%$
C. $5\%$D. $4\%$

Answer: Option C

Explanation:

Simple interest(SI) for $12$ years $=22400-14000=8400$

$\text{R}=\dfrac{100×\text{SI}}{\text{PT}}=\dfrac{100×8400}{14000×12}=5$

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