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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