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What is the rate of simple interest at which Rs. 14,000 gives interest of Rs. 1960 in two years?
  • a)
    4%
  • b)
    5%
  • c)
    7%
  • d)
    10%
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the rate of simple interest at which Rs. 14,000 gives interest...
Given, principal amount (P) = Rs. 14,000
Interest (I) = Rs. 1960
Time (T) = 2 years

We need to find the rate of interest (R).

We know that,
Simple Interest (SI) = P × R × T / 100

Substituting the given values, we get
1960 = 14000 × R × 2 / 100

Simplifying the above equation, we get
R = 1960 × 100 / 14000 × 2 = 7%

Therefore, the rate of interest is 7%. Option C is the correct answer.
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What is the rate of simple interest at which Rs. 14,000 gives interest of Rs. 1960 in two years?a)4%b)5%c)7%d)10%e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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