Manoj deposited 29400 Rs. for 6 years at a simple interest. He got 4200 Rs. as interest after 6 years. The annual rate of interest was :
Manoj deposited 29400 Rs. for 6 years at a simple interest. He got 4200 Rs. as interest after 6 years. The annual rate of interest was :
[A]$latex 2\frac{8}{21}\%&s=1$
[B]$latex 2\frac{7}{20}\%&s=1$
[C]$latex 3\frac{8}{21}\%&s=1$
[D]$latex 4\frac{8}{21}\%&s=1$
$latex \mathbf{2\frac{8}{21}\%}&s=1$
$latex 4200 = \frac{29400\times 6\times R}{100}&s=1$
$latex => R = \frac{4200}{294\times 6} = \frac{50}{21} = 2\frac{8}{21}\%&s=1$
Hence option [A] is correct answer.