Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

Rohan lends a sum of Rs. 5,000 on simple interest for 10 years in such a way that the rate of interest is 6% per annum for the first 2 years and at 8% per annum for the next 2 years and 10% per annum beyond 4 years. \(\frac{2}{5}\)th of simple interest at the end of 10 years is:

Options:

4400

1760

1860

2060

Correct Answer:

1760

Explanation:

S.I. of 10 years = \(\frac{5000 × 6 × 2}{100}\) + \(\frac{5000 × 8 × 2}{100}\) + \(\frac{5000 × 10 × 6}{100}\)

                       = 600 + 800 + 3000  =  4400

\(\frac{2}{5}\)th of S.I. = \(\frac{2}{5}\) × 4400 = 1760