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    • Question

      What sum (in ₹) will earn a simple interest of ₹960

      in 3 years at 4% per year rate of interest? 
      A 4000 Correct Answer Incorrect Answer
      B 8000 Correct Answer Incorrect Answer
      C 16000 Correct Answer Incorrect Answer
      D 115.2 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Simple Interest Formula: SI = (P × R × T) / 100 Given: SI = ₹960 R = 4% T = 3 years Substitute the values: 960 = (P × 4 × 3) / 100 960 = (12P) / 100 960 × 100 = 12P 96000 = 12P P = 96000 / 12 P = ₹8000

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