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    Question

    A sum of money is invested at a rate of 5% per annum

    simple interest. If the interest earned in 3 years is ₹900, what is the sum of money invested?
    A ₹4000 Correct Answer Incorrect Answer
    B ₹5000 Correct Answer Incorrect Answer
    C ₹6000 Correct Answer Incorrect Answer
    D ₹7000 Correct Answer Incorrect Answer
    E ₹8000 Correct Answer Incorrect Answer

    Solution

    The formula for Simple Interest (SI) is: SI = (P × R × T) / 100, where P is the principal, R is the rate, and T is the time in years. We are given: SI = ₹900, R = 5%, T = 3 years. Substituting the values into the formula: 900 = (P × 5 × 3) / 100 900 = (15P) / 100 P = (900 × 100) / 15 P = ₹6000. Correct option: c

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