Q. If the simple interest on Rs. 4800 for 2 years is Rs. 960, what is the annual rate?
✅ Correct Answer: (B)
10%
Explanation: R = SI×100/(P×T) = 960×100/(4800×2) = 10%.
Explanation by: Mr. Dubey
R = SI×100/(P×T) = 960×100/(4800×2) = 10%.