What amount will be ₹1440 in 4 years a

CUET Preparation Today

Start Free Mocks

Home Questions SH5V5T3Q75

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

What amount will be ₹1440 in 4 years at 5% simple interest?

Options:

₹1180

₹1080

₹1200

₹1240

Correct Answer:

₹1200

Explanation:

Simple interest of 4 years = 4 × 5% = 20%

Let Sum invested = 100%

ATQ,

( 100+20 )% = 1440

120% = 1440

1% = 12

Sum invested = 12 × 100 = Rs.1200