Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

In how much time a sum of ₹500 becomes ₹625 at the rate of 5% per annum simple interest?

Options:

5 years

7 years

3 years

8 years

Correct Answer:

5 years

Explanation:

Interest = 625-500 = 125

SI = \(\frac{PRT}{100}\)

125 = \(\frac{500× 5×T}{100}\)

T= 5 years