The simple interest of ₹100 for 4 mont

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The simple interest of ₹100 for 4 months at the rate of 5 paise per rupee per month is.

Options:

₹12

₹20

₹15

₹18

Correct Answer:

₹20

Explanation:

Rate of interest = \(\frac{5}{100}\) × 100 = 5% per month

We know,

Simple interest = \(\frac{ P × R × T }{100}\)

= \(\frac{ 100 × 5 × 4 }{100}\)

= Rs. 20