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Find the rate of interest if the amount after 2 years of simple interest on a capital of Rs. 1200 is Rs. 1440.

A. 8% B. 9% C. 10% D. 11% Answer: Option C
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Solution(By Apex Team)

$\begin{array}{l}\text{Amount, A = Rs. 1440}\\ \text{Principal, P = Rs. 1200}\\ \text{Intesrest, I = Rs. (1440}-\text{1200) =240}\\ \text{R}=\frac{240\times100}{1200\times2}=10\%\end{array}$

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