Find the value of the interest earned on

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

Find the value of the interest earned on a sum of ₹6,000 for 5 years at 8.4% simple interest rate per annum.

Options:

₹2,520

₹2,252

₹2,220

₹2,250

Correct Answer:

₹2,520

Explanation:

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

= $\frac{6000 × 8.4 × 5 }{100}$

= Rs.2520