Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

In how many years, will ₹5,450 amount to ₹8,175, if invested at simple interest at the rate of 12.5% per annum?

Options:

6

5

4

3

Correct Answer:

4

Explanation:

Simple interest earned over all years = 8175 - 5450 = 2725

Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)

2725 = \(\frac{5450 × 12.5 × Time }{100}\)

Time = 4 years