A loan of Rs. 2400 is cleared with an amount of Rs. 3264 at the end of the loan period, the period in years and rate of interest being numerically equal. What is the rate of Simple Interest?

A loan of Rs. 2400 is cleared with an amount of Rs. 3264 at the end of

1.	A loan of Rs. 2400 is cleared with an amount of Rs. 3264 at the end of the loan period, the period in years and rate of interest being numerically equal. What is the rate of Simple Interest?
A.	5%
B.	18%
C.	6%
D.	10%
Answer» D. 10%

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A loan of Rs. 2400 is cleared with an amount of Rs. 3264 at the end of the loan period, the period in years and rate of interest being numerically equal. What is the rate of Simple Interest?

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