Find the simple interest on Rs. 5000 at 8% per annum for 3 years. | Mathematics MCQ | Examoogle

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Find the simple interest on Rs. 5000 at 8% per annum for 3 years.

$\text{Rs. } 1200$

$\text{Rs. } 1500$

$\text{Rs. } 1000$

$\text{Rs. } 1800$

Correct Answer

📐 MA • Math Direct FormulaMathematicsMathematics

Option A

$\text{Rs. } 1200$

Quick Summary:

Calculate 1% of the principal (Rs. 50) and multiply by the total percentage interest ( $8 \times 3 = 24\%$ ), giving $50 \times 24 = \text{Rs. } 1200$ .

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📐MAMath SolutionDirect Formula

📋 Given

Principal P = Rs. 5000, Rate of interest R = 8% per annum, Time T = 3 years

🔢 Formula Used

SI=P×R×T100SI = \frac{P \times R \times T}{100}SI=100P×R×T​

⚡ Exam Hall Shortcut / Speed Trick

Calculate 1% of the principal (Rs. 50) and multiply by the total percentage interest ( $8 \times 3 = 24\%$ ), giving $50 \times 24 = \text{Rs. } 1200$ .

⚠️ Common Student Trap / Pitfall

Students often calculate compound interest instead of simple interest or mix up the time units when given in months instead of years.

📊 Diagram / Illustration

🔢 Step-by-Step Solution

Identify Given Values

Note down the principal amount, rate of interest, and time period from the question: Principal $P = 5000$ , Rate $R = 8\%$ , Time $T = 3 \text{ years}$ .

P=5000,R=8,T=3P = 5000, R = 8, T = 3P=5000,R=8,T=3

Apply Simple Interest Formula

Substitute the given values into the standard simple interest formula: $SI = \frac{P \times R \times T}{100}$ .

SI=5000×8×3100SI = \frac{5000 \times 8 \times 3}{100}SI=1005000×8×3​

Calculate the Result

Simplify the expression by cancelling the zeros and multiplying the remaining values: $50 \times 8 \times 3 = 1200$ .

SI=50×24=1200SI = 50 \times 24 = 1200SI=50×24=1200

✅

A is correct because the simple interest calculated is Rs. 1200.

Core Concepts Used

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Simple Interest Principal and Rate Calculations Percentage Applications

💡 EXAM TIP

Understanding simple interest forms the foundation for tackling complex compound interest problems and installment-based questions in quantitative aptitude.

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