If a sum of money amounts to Rs.12,900 and Rs.14,250 at the end of 4th year and 5th year respectively at a certain rate of simple interest, then the rate of interest is
1). 10%
2). 12%
3). 18%
4). 20%
I think it may be right answer
S.I. for 1 year
= 14250 – 12900 = Rs. 1350
S.I. for 4 years = 1350 × 4
= 5400
Principal = 12900 – 5400
= 7500
R = $\frac{5400\times100}{7500\times4}$
= 18% per annum