Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

A sum lent out at compound interest amounts to ₹1,250 in one year and to ₹1,458 in 3 years at a certain rate percentage p.a. What is the simple interest on the same sum for $5\frac{2}{5}$ years at the same rate of interest?

Options:

₹600

₹520

₹500

₹480

Correct Answer:

₹500