How much time will it take for an amount

CUET Preparation Today

Start Free Mocks

Home Questions PQT9X4WVB8

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

How much time will it take for an amount of Rs 600 to yield Rs 54 as interest at 3% per annum of simple interest?

Options:

1 year

2 years

4 years

3 years

Correct Answer:

3 years

Explanation:

Formula used:

Simple Interest = $\frac{P \times R \times T}{100}$

54 = $\frac{600 \times 3 \times T}{100}$

⇒ T = 3 years