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A sum of Rs. 48,000 was lent out at simple interest and at the end of 2 years and 3 months the total amount was Rs.55,560. Find the rate of interest p
Question

A sum of Rs. 48,000 was lent out at simple interest and at the end of 2 years and 3 months the total amount was Rs.55,560. Find the rate of interest per year.

A.

7%

B.

8%

C.

9%

D.

10%

E.

Answer not known

Correct option is A

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