Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The sum of money that will give Rs.1 as interest per day at the rate of 5% per annum at simple interest is:

Options:

Rs.3650

Rs.36500

Rs.370

Rs.7300

Correct Answer:

Rs.7300

Explanation:

SI = \(\frac{PRT}{100}\)

SI = 1 Per day

SI for 365 days = Rs.365

365 = \(\frac{P\;×\;5\;×\;1}{100}\)

P = Rs.7300