A sum of Rs.6000 is lent for 3 years at

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

A sum of Rs.6000 is lent for 3 years at the rate of 25% per annum. Find simple interest.

Options:

4000

5500

4500

3300

Correct Answer:

4500

Explanation:

The total Simple Interest received in 3 years = 25 × 3 = 75%

Simple Interest = Principal × 75%

= 6000 × 75%

= Rs.4500/-