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Examoogle • User • info@examoogle.com • EE-2024-8821
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Find the simple interest on ₹3,000 as a sum borrowed at 4% per year rate of interest for 5 years.
₹400
₹800
₹300
₹600
₹600
Calculate total interest percentage directly: 4%×5=20%. Then find 20% of ₹3,000, which is 0.20×3000=600.
Principal (P) = ₹3,000, Rate (R) = 4% per annum, Time (T) = 5 years
SI=100P×R×T
Calculate total interest percentage directly: 4%×5=20%. Then find 20% of ₹3,000, which is 0.20×3000=600.
Multiplying by 100 instead of dividing by 100 in the formula.
Identify Given Parameters
From the problem, the principal sum is P=3000, the annual interest rate is R=4%, and the time period is T=5 years.
P=3000,R=4%,T=5
Apply Simple Interest Formula
The formula for simple interest is SI=100P×R×T.
SI=100P×R×T
Substitute Values and Compute
Substitute P=3000, R=4, and T=5 into the formula: SI=1003000×4×5=10060000=600.
SI=1003000×4×5=600
D is correct because the simple interest calculated is ₹600.
Understanding simple interest lays the foundation for compound interest and installment-based quantitative aptitude problems.
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