What is the rate of simple interest if a sum of money amount ₹ 2,784 in 4 years and ₹ 2,688 in 3 years ?

CA Foundation · Quantitative Aptitude · MTP · January 2025
What is the rate of simple interest if a sum of money amount ₹ 2,784 in 4 years and ₹ 2,688 in 3 years ?
(A) A. 1%p.a.
(B) B. 4%p.a.
(C) C. 5%p.a.
(D) D. 8%p.a.

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. 4%p.a.

Topics: Part-A: Business Mathematics

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