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Q:
A) 3.46% | B) 4.5% |
C) 5% | D) 6% |
Answer: A) 3.46%
Explanation:
Explanation:
Let the original rate be R%. Then, new rate = (2R)%.
Note: Here, original rate is for 1 year(s); the new rate is for only 4 months i.e.1/3 year(s).
=> (2175 + 725) R = 33.50 x 100 x 3
=> (2175 + 725) R = 10050
=> (2900)R = 10050
=>
Original rate = 3.46%