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At what rate of simple interest (SI) will a sum of Rs. 7000 amount to Rs. 7700 in 2 years?
  • a)
    5.5%
  • b)
    6.5%
  • c)
    6%
  • d)
    5%
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
At what rate of simple interest (SI) will a sum of Rs. 7000 amount to ...
The rate of interest is
5%
(Option D).
Explanation: The simple interest (SI) formula is: 
SI = (P x R x T)/ 100
Where:
  • P = 7000 (Principal)
  • A = 7700 (Amount)
  • T = 2 years
Step 1
: Calculate SI:
SI = A − P = 7700 − 7000 = 700
Step 2
: Substitute into the formula:


Thus, the rate is 5 %.
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At what rate of simple interest (SI) will a sum of Rs. 7000 amount to Rs. 7700 in 2 years?a)5.5%b)6.5%c)6%d)5%Correct answer is option 'D'. Can you explain this answer?
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