For how many years does a person need to invest his Tk. 3,000 at 7% to earn Tk. 420 in simple interest?
A
1 years
B
2 years
C
3 years
D
4 years
Correct Answer: 2 years
1 year interest of Tk. 3, 000 = 7% × 30 = Tk.210 years needed = 420/210 = 2 years