What is the simple interest on ₹2,000

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

What is the simple interest on ₹2,000 for 4 years at the rate of 10% per annum?

Options:

₹500

₹800

₹600

₹1,000

Correct Answer:

₹800

Explanation:

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

= \(\frac{2000 × 10 × 4 }{100}\)

= 800