A person borrowed some money on simple interest. After 4 years, he returned 9/5 of the money to the lender. What was the rate of interest?

SSC SSC CGL Tier 1 Easy Simple & Compound Interest MCQ

Question

A person borrowed some money on simple interest. After 4 years, he returned 9/5 of the money to the lender. What was the rate of interest?

Options

A.

19% p.a.

B.

18% p.a.

C.

17% p.a.

D.

20% p.a.

simple interestinterest ratetimeprincipal

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