The simple interest on ₹500 at 6% per

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The simple interest on ₹500 at 6% per annum from May 3rd to July 15th in the same year is :

Options:

₹4

₹6

₹9

₹15

Correct Answer:

₹6

Explanation:

Number of days from May 3rd to July 15th in the same year = 28 + 30 + 15

= 73 days

= \(\frac{ 1 }{5}\)th year

SI = \(\frac{ P × R × T }{100}\)

= \(\frac{ 500 × 6 × 1 }{5×100}\)

= 6

The correct answer is option (2) : ₹6