Q. If simple interest on a sum for 2 years is 10% of the sum, what is the annual rate?
✅ Correct Answer: (A)
5%
Explanation: SI for 2 years = 10% ⇒ per year = 10%/2 = 5%. Option2 is total for 2 years, not annual. Options 3 and 4 wrong.
Explanation by: Mr. Dubey
SI for 2 years = 10% ⇒ per year = 10%/2 = 5%. Option2 is total for 2 years, not annual. Options 3 and 4 wrong.