A sum of Rs. 25000 becomes Rs. 27250 at the end of 3 years when calculated at simple interest. Find the rate of interest.  Choose the correct choice from the following options.
A) 1% B) 2% C) 3% D) 4% E) 5%
Simple interest = 27250 – 25000 = 2250   Time = 3 years.   SI = PTR / 100 → R = SI * 100 / PT   R = 2250 * 100 / 25000 * 3 → R = 3%. ANSWER : 3%
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A sum of Rs. 25000 becomes Rs. 27250 at the end of 3 years when calculated at simple interest. Find the rate of interest.