Mathematics · Simple Interest
The amount payable on maturity after 112 years on a principal sum of ₹4,750, when invested at a certain rate percent of simple interest per annum, was ₹6,840. What was the per annum percent rate of simple interest paid?
- 17.5%
- 28%✓
- 38.5%
- 49%
Correct answer
8%
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