Practicing Success
The simple interest on an amount of ₹2800 at the end of 3 years is ₹420. What would be the simple interest on an amount of ₹3200 for the same rate and the same period? |
₹480 ₹560 ₹440 ₹640 |
₹480 |
Simple interest = \(\frac{Principal ×Rate × Time }{100}\) 420 = \(\frac{2800 ×Rate × 3 }{100}\) Rate = 5% Now, Simple interest = \(\frac{Principal ×Rate × Time }{100}\) = \(\frac{ 3200 × 5 × 3 }{100}\) = Rs. 480 |