📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store

    • Question

      A farmer borrows ₹50,000 at a simple interest rate of

      12% per annum. After how many years will the total interest amount to ₹30,000?
      A 3 years Correct Answer Incorrect Answer
      B 4 years Correct Answer Incorrect Answer
      C 5 years Correct Answer Incorrect Answer
      D 6 years Correct Answer Incorrect Answer

      Solution

      Simple Interest = (Principal × Rate × Time) / 100. ₹30,000 = (₹50,000 × 12 × Time) / 100 30,000 = 6,000 × Time Time = 30,000 / 6,000 = 5 years. Correct option: C) 5 years

      Practice Next
      ask-question