Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The Rate Percent per annum at which 1200 amount to 1440 in 4 year is?

Options:

8%

6%

4%

5%

Correct Answer:

5%

Explanation:

Amount = Principal + Simple interest

SI = 1440 - 1200

= 240

SI = \(\frac{ P × R × T }{100}\)

240  = \(\frac{ 1200 × R × 4 }{100}\)

2  = \(\frac{ R × 4 }{10}\)

R = 5%

The correct answer is Option (4) → 5%