What annual rate was paid if tk. 50,000 earned tk. 3,000 in interest in two years ?
A
3%
B
6%
C
9%
D
12%
Correct Answer: 3%
What annual rate was paid if tk. 50,000 earned tk. 3,000 in interest in two years ? Rate of interest = I/(Pxn) = 3000/(50,000x2) = 3%