Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

In how many years will a sum of ₹90 become ₹108 at $6\frac{1}{4}\%$ simple interest?

Options:

$3\frac{1}{5}$ years

$4\frac{1}{5}$ years

$2\frac{1}{5}$ years

$6\frac{1}{5}$ years

Correct Answer:

$3\frac{1}{5}$ years

Explanation:

We know ,

Simple interest = \(\frac{ P × R × T}{100}\)

Amount = Principal + Interest

108 = 90 + Interest

Interest = 18

18 = \(\frac{ 90 × 6.25 × T}{100}\)

1800 = 562.5 × T

T = 3.2 year

= 3\(\frac{ 1}{5}\) year