Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

A sum of Rs 28500 is lent out at 6.4% per annum simple interest for 10 years. What will be the amount after 10 years?

Options:

Rs 285000

Rs 46740

Rs 40290

Rs 32480

Correct Answer:

Rs 46740

Explanation:

Simple Interest = $\frac{P \times R \times T}{100}$

                       = $\frac{28500 \times 6.4 \times 10}{100}$

                       = 18240

Amount = Principal + SI

             = 28500 + 18240

             = Rs 46740