A sum fetched a simple interest of Rs 33

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

A sum fetched a simple interest of Rs 3360 at a rate of 6% per year in 7 years. Find the sum.

Options:

Rs 8000

Rs 9500

Rs 7500

Rs 6000

Correct Answer:

Rs 8000

Explanation:

Simple Interest = $\frac{P \times R \times T}{100}$

3360 = $\frac{P\times6\times7}{100}$

P = Rs 8000