On a certain sum interest for 2 years at

CUET Preparation Today

Start Free Mocks

Home Questions 6QTC6MPAR8

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

On a certain sum interest for 2 years at 5% is ₹16000. Find the sum.

Options:

₹1,80,000

₹16,000

₹1,60,000

₹80,000

Correct Answer:

₹1,60,000

Explanation:

SI = \(\frac{ P ×R ×T}{100}\)

16000 = \(\frac{ P × 5 ×2}{100}\)

16000 = \(\frac{ P }{10}\)

P = 160000

The correct answer is option (3) : ₹1,60,000