A sum of ₹ 2668 amount to ₹ 4669 in 5 yr

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A sum of ₹ 2668 amount to ₹ 4669 in 5 yr at the rate of simple interest . Find the rate per cent.

1. 15.2%
2. 14.9%
3. 16%
4. 15%

Correct Option: D

Here, P = ₹ 2668, T = 5 yr, A = ₹ 4669
We know that,
Amount (A) = Principal (P) + (Simple Interest) SI
4669 = 2668 + SI
⇒ SI = 4669 - 2668 = ₹ 2001
Again, SI = (P x R x T)/100
∴ 2001 = (2668 x R x 5)/100
⇒ R= (2001 x 100) / (2668 x 5)
= (2001 x 5)/667
= 15%