The simple interest on a certain sum of money is 1 / 25 times of principal, the rate of interest when rate of interest and time are equal is

CA Foundation · Quantitative Aptitude · MTP · September 2024
The simple interest on a certain sum of money is 1 / 25 times of principal, the rate of interest when rate of interest and time are equal is
(A) A. 2%
(B) B. 3%
(C) C. 4%
(D) D. None

Suggested Answer and Working Notes:

Correct Answer: Option (A)

A. 2%

Topics: Part-A: Business Mathematics

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