Q. Simple interest on Rs. 200 for 3 years is Rs. 30. What is the annual rate?
✅ Correct Answer: (B)
5%
Explanation: R = SI×100/(P×T) = 30×100/(200×3) = 3000/600 = 5%. Other options are incorrect.
Explanation by: Mr. Dubey
R = SI×100/(P×T) = 30×100/(200×3) = 3000/600 = 5%. Other options are incorrect.