New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A sum of money is invested at 8% simple interest per

    annum. If the interest earned after 4 years is ₹3200, what is the principal amount?
    A ₹4,000 Correct Answer Incorrect Answer
    B ₹5,000 Correct Answer Incorrect Answer
    C ₹6,000 Correct Answer Incorrect Answer
    D ₹10,000 Correct Answer Incorrect Answer

    Solution

    Using the formula for simple interest, Interest = (P × R × T) / 100 Where P = Principal, R = Rate, T = Time, and Interest = ₹3200 Substitute the given values: 3200 = (P × 8 × 4) / 100 3200 = (32P) / 100 3200 × 100 = 32P 320000 = 32P P = 320000 / 32 = ₹10,000 Correct Option: d) ₹10,000

    Practice Next

    Relevant for Exams: