Examoogle
ExamsTest SeriesCBATRank CheckPrevious Year PapersPassBook StoreMy BooksAI Tutor
ЁЯЫТ0
рдЕA
Examoogle

India's most trusted platform for competitive exam PDF books. Expert-authored, watermark-protected, instant access.

Exams & Practice
All Exams & SyllabusMock Test SeriesPrevious Year PapersPractice Questions (MCQs)Recruitment Notifications
Quick Links
Examoogle AI TutorExam NewsBook StoreMy BooksLogin / Sign Up
Support
About UsRefund PolicyPrivacy PolicyTerms of UseContact Us
┬й 2026 Examoogle. India's #1 competitive exam AI tutor.
ЁЯФТ SSL SecuredЁЯУ▒ UPI AcceptedЁЯз╛ GST Invoice
Examoogle

Join 60,000+ competitive exam aspirants

or with email
By continuing, you agree to ourTerms of Service&Privacy Policy
Your Cart
SubtotalтВ╣0
TotalтВ╣0
Examoogle тАв User тАв info@examoogle.com тАв EE-2024-8821
Chapter 1 of 12 тАв Page 1 of 248ЁЯФТ Protected PDF тАв Watermarked
Back to Practice Questions
MathematicsSimple & Compound Interest
PrevNext

How long will it take for 2,000 to become 2,600 at a rate of 10% per annum simple interest?

A

2 years

B

3 years

C

4 years

D

5 years

Correct Answer

ЁЯУР MA тАв Math Direct FormulaMathematicsSimple & Compound Interest
Option B

3 years

Quick Summary:

Given: Principal P = 2,000, Final Amount A = 2,600, Rate R = 10% per annum.

ЁЯУРMAMath SolutionDirect Formula
ЁЯУЛ Given

Principal P = 2,000, Final Amount A = 2,600, Rate R = 10% per annum.

ЁЯФв Formula Used

SI=AтИТP=P├ЧR├ЧT100SI = A - P = \frac{P \times R \times T}{100}SI=AтИТP=100P├ЧR├ЧTтАЛ

тЪб Exam Hall Shortcut / Speed Trick

Calculate the interest gain as a percentage of the principal. 600600600 is 30%30\%30% of 2,0002,0002,000. Since the annual rate is 10%10\%10%, the time required is 30%/10%=330\% / 10\% = 330%/10%=3 years.

тЪая╕П Common Student Trap / Pitfall

Students often mistake the final amount 2,6002,6002,600 for the simple interest and calculate T=(2600├Ч100)/(2000├Ч10)T = (2600 \times 100) / (2000 \times 10)T=(2600├Ч100)/(2000├Ч10), which is incorrect.

ЁЯУК Diagram / Illustration
Simple Interest Calculation 1 Calculate Simple Interest (SI) SI = Amount - Principal = 2, 600 - 2, 000 = 600 2 Formula for Time (T) T = (SI ├Ч 100) / (P ├Ч R) 3 Substitute Values T = (600 ├Ч 100) / (2, 000 ├Ч 10) = 60, 000 / 20, 000 4 Final Result Time (T) = 3 Years Correct Option: B) 3 years
ЁЯФв Step-by-Step Solution
1

Calculate Simple Interest

Subtract the principal from the final amount to find the total simple interest accrued: 2,600тИТ2,000=6002,600 - 2,000 = 6002,600тИТ2,000=600.

SI=2600тИТ2000=600SI = 2600 - 2000 = 600SI=2600тИТ2000=600

2

Rearrange Formula for Time

Using the formula SI=(P├ЧR├ЧT)/100SI = (P \times R \times T) / 100SI=(P├ЧR├ЧT)/100, solve for TTT as T=(SI├Ч100)/(P├ЧR)T = (SI \times 100) / (P \times R)T=(SI├Ч100)/(P├ЧR).

T=SI├Ч100P├ЧRT = \frac{SI \times 100}{P \times R}T=P├ЧRSI├Ч100тАЛ

3

Substitute Values

Plug in the known values: P=2,000P = 2,000P=2,000, SI=600SI = 600SI=600, and R=10R = 10R=10.

T=600├Ч1002000├Ч10T = \frac{600 \times 100}{2000 \times 10}T=2000├Ч10600├Ч100тАЛ

4

Final Calculation

Simplify the fraction to get T=60,000/20,000=3T = 60,000 / 20,000 = 3T=60,000/20,000=3.

T=3┬аyearsT = 3 \text{ years}T=3┬аyears

тЬЕ

B is correct because the simple interest of 600 on a principal of 2,000 at 10% rate results in exactly 3 years.

Core Concepts Used
Click any tag to open in AI Tutor
Simple Interest Principal and Amount relation Linear time-interest proportionality
ЁЯТб EXAM TIP

This concept is foundational for Compound Interest problems; always differentiate between simple interest (constant) and compound interest (compounding annually).

Related Questions

MathematicsSimple & Compound Interest
In what duration will a sum of money triple itself at 25% per annum simple interest?
MathematicsSimple & Compound Interest
A man invested 50,000 at 8% per annum simple interest for 3 years. Find the total amount he will receive after 3 years.
MathematicsSimple & Compound Interest
What sum of money will yield 1,200 as simple interest in 4 years at 5% per annum?
MathematicsSimple & Compound Interest
The salary of Rahul is тВ╣60,000. Out of which he deposits x% amount at 10% simple interest. If the accumulated amount for the money deposited after 2 y
MathematicsSimple & Compound Interest
The savings of Rohan is тВ╣60,000. Out of which he invests y% amount at 12% simple interest. If the accumulated amount for the money invested after 2 ye

Discussion (0)

Loading discussion...
PrevNext