📢 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 sum of ₹12,000 is invested at a certain rate of

      simple interest for 3 years. If the total interest earned at the end of 3 years is ₹2,160, find the rate of interest per annum.
      A 5% Correct Answer Incorrect Answer
      B 6% Correct Answer Incorrect Answer
      C 7% Correct Answer Incorrect Answer
      D 8% Correct Answer Incorrect Answer
      E none Correct Answer Incorrect Answer

      Solution

      Using the simple interest formula: SI = (P × R × T) / 100 Where SI = ₹2160, P = ₹12,000, T = 3 years, and R is the rate of interest. 2160 = (12000 × R × 3) / 100 2160 = 360R R = 2160 / 360 R = 6% Correct answer: b) 6%

      Practice Next
      ask-question