Start practising
Practice mode Simple Interest

Farah deposits Rs. 6,400 in a savings scheme paying 7.5% per annum simple interest. How much interest will she earn in 3 years?

Correct answer C. Rs. 1,440

Explanation

SI = PRT/100 = 6400 × 7.5 × 3 / 100 = Rs. 1,440. The interest is the same each year, Rs. 480, because simple interest is always charged on the original principal.

Report a problem

Answer checked How we write and check questions

Tip: press A, B, C or D to answer, and N for the next question.

Advertisement

More Simple Interest questions

See all
Question 02 Simple Interest

What is the rate of simple interest? I. The total interest earned was Rs. 4000. II. The sum was invested for 4 years.

Correct answer B. II alone sufficient while I alone not sufficient to answer

Open question
Advertisement
Question 03 Simple Interest

What percentage of simple interest per annum did Anand pay to Deepak? I. Anand borrowed Rs. 8000 from Deepak for four years. II. Anand returned Rs. 8800 to Deepak at the end of two years and settled the loan.

Correct answer B. II alone sufficient while I alone not sufficient to answer

Open question
Question 04 Simple Interest

What is the sum which earned interest? I. The total simple interest was Rs. 7000 after 7 years. II. The total of sum and simple interest was double of the sum after 5 years.

Correct answer B. II alone sufficient while I alone not sufficient to answer

Open question

Discussion

Have a question about this answer?

Your email address will not be published. Required fields are marked *

Links and website addresses are not allowed in comments.