The simple interest on ₹ 4000 in 3 yr at the rate of R % per annum equals equals to the simple interest on ₹ 5000 at the rate of 12% per annum in 2 yr The value of R is
Correct Answer: 10%
Explanation:
Since, the two simple interest are equal.
Then, (4000 x 3 x R)/100 = (5000 x 12 x 2)/100
∴ R = 10%
