What is the simple interest on ₹35000

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

What is the simple interest on ₹35000 at $\frac{18}{7}$ % per annum for a period of 9 months?

Options:

₹675

₹600

₹875

₹700

Correct Answer:

₹675

Explanation:

9 months = $\frac{3 }{4 }$ years

We know ,

Simple Interest = $\frac{Principal ×Rate × Time }{100}$

= $\frac{35000 × 18 × 3 }{100×7×4}$

= Rs. 675