Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

A man deposits a sum of money in standing of every year till 4 years. After 4 years Rs.10800 were deposited in his account. Find the sum of money deposit by the man every year if the rate of interest is 5% p.a.

Options:

Rs. 2000

Rs. 9000

Rs. 2500

Rs. 2680

Correct Answer:

Rs. 9000

Explanation:

Amount = Principal + Interest

10800 = P + \(\frac{P × 5 × 4}{100}\)

10800 = \(\frac{6P}{5}\)

P = 9000