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  1. The rate of simple interest for which Rs. 6,000 will amount to Rs. 6,900 in 3 years is
    1. 5%
    2. 7%
    3. 2%
    4. 4%
Correct Option: A

We know that ,
S.I. = Amount – Principal
S.I. = Rs. (6900 – 6000) = Rs. 900

∴ Rate =
Simple Interest × 100
Principal × Time

Rate =
900 × 100
6000 × 3

Rate = 5% per annum



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