Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The simple interest on a certain sum is one-eighth of the sum and the number of years is equal to half of the rate percentage per annum. Find the simple interest on Rs. 25000 at the same rate of simple interest for 6 years.

Options:

6000

7500

8500

9000

Correct Answer:

7500

Explanation:

Time =  \(\frac{R}{2}\)
SI = \(\frac{P\;R\;T}{100}\) 

ATQ,

\(\frac{P}{8}\) = \(\frac{P × R}{100}\) × \(\frac{R}{2}\) 

R2 = 25,

R = 5%

Total rate for 6 years = 30%                                        

SI = 25000 × \(\frac{30}{100}\) = 7500