Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

If the simple interest on a certain sum of money for 3 years at the rate of 12.5% p.a. is Rs.3500 less than its principal then find simple interest (in Rs.).

Options:

2200

2000

2500

2100

Correct Answer:

2100

Explanation:

\(\frac{P\;×\;25\;×\;3}{2\;×\;100}\) = P - 3500

⇒ \(\frac{5P}{8}\) = 3500

⇒ P = 5600

⇒ Simple Interest = 5600 - 3500 = 2100