A sum becomes 8,400 in 3 years and 9,600 in 5 years under simple interest. Find the principal and the annual rate (in % to 3 decimal places).
- AOption (a)
Principal = 6,400, Rate = 9.375%
- BOption (b)
Principal = 6,600, Rate = 9.091%
- COption (c)
Principal = 7,200, Rate = 8.333%
- DOption (d)
Principal = 6,300, Rate = 10.000%
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Correct answer
Principal = 6,400, Rate = 9.375%










