Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The simple interest on ₹1800 is ₹20 more than simple interest on ₹1700 in 4 years then find the interest rate per annum.

Options:

15%

8%

5%

10%

Correct Answer:

5%

Explanation:

 \(\frac{P\;×\;R\;×\;T}{100}\) = S.I.

ATQ, 

⇒ \(\frac{1800 × RT}{100}\) -  \(\frac{1700 × RT}{100}\) = 20

⇒ \(\frac{RT}{100}\) × 100 = 20

⇒ RT = 20

⇒ R × 4 = 20              (Here T = 4)

⇒ R = 5%