If the rate of interest is 20% per annum and the amount of Rs. 15,000 is given at half-yearly compound interest, what will be the equivalent rate of simple interest for 1 year?

If the rate of interest is 20% per annum and the amount of Rs. 15,000

1.	If the rate of interest is 20% per annum and the amount of Rs. 15,000 is given at half-yearly compound interest, what will be the equivalent rate of simple interest for 1 year?
A.	21%
B.	23%
C.	20.4%
D.	20.6%
Answer» B. 23%

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If the rate of interest is 20% per annum and the amount of Rs. 15,000 is given at half-yearly compound interest, what will be the equivalent rate of simple interest for 1 year?

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