Banking Exams Quant — Question 710
Question
A deposit of ₹8000 earns ₹960 interest in 2 years. What is the rate?
- 5%
- 6%
- 7%
- 8%
Correct answer
B — 6%
Explanation (English)
SI = PRT/100. 960 = 8000×R×2/100. R = 6%
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