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A sum of 1600 gives a simple interest of 252 in 2 years and 3 months. The rate of interest per annum is:
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5 1 % 2
- 8%
- 7%
- 6%
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Correct Option: C
Given that , Principal (P) = ₹1600 , T = 2 years 3 months
| T = |  | 2 + | 3 |  | Years. = | | 2 + | 1 | | Years. = | 9 | Years. |
| 12 | 4 | 4 |
S.I = ₹ 252
R = % Rate of interest per annum
We know that ,
| ⇒ R = | 100 × S.I |
| P × t |
| R = | 100 × 252 |
| 1600 × (9÷ 4) |
Rate of interest = 7% per annum.
