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A deposit certificate is shown, but the rate is missing. At what rate per annum was simple interest paid?

Class 7Simple InterestComparing Quantities

A27%
B8%
C9%
D12%

Step-by-Step Solution

Interest

= 15240 - 12000 = ₹ 3, 240. R = \frac{100 \times S I}{P \times T} = \frac{100 \times 3240}{12000 \times 3} = 9%

. (27% forgets to divide by the 3 years.)

Answer: C) 9%

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