Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

If the simple interest for 6 yrs be equal to 30 % of the principal, it will be equal to the principal after how much time?

 

Options:

10 yrs

30 yrs

20 Yrs

40 Yrs

Correct Answer:

20 Yrs

Explanation:

6 years simple interest is equal to 30% i.e. 1 year simple interest is equal to 5%.

Thus, for simple interest to be equal to 100% i.e. principal amount it will take \(\frac{100}{5 }\) = 20 years