Join 60,000+ competitive exam aspirants
or with email
Your Cart
Subtotal₹0
Total₹0
Examoogle • User • info@examoogle.com • EE-2024-8821
Chapter 1 of 12 • Page 1 of 248🔒 Protected PDF • Watermarked
Join 60,000+ competitive exam aspirants
What sum of money (in ₹) will yield ₹700 as simple interest in 2 years at 8% per annum?
4375
4575
3875
4775
4375
Since the total interest is 16% of the Principal (8% * 2 years), just calculate 100/16 of 700. 700 / 0.16 = 4375.
Simple Interest (SI) = ₹700, Time (T) = 2 years, Rate (R) = 8% per annum.
SI=100P×R×T
Since the total interest is 16% of the Principal (8% * 2 years), just calculate 100/16 of 700. 700 / 0.16 = 4375.
Many students mistakenly divide by 1000 or use time as 1 year instead of 2 years, leading to calculation errors.
State the formula
We use the standard simple interest formula: SI=100P×R×T where P is the principal amount.
SI=100P×R×T
Substitute the values
Substitute SI=700, R=8, and T=2 into the formula: 700=100P×8×2.
700=100P×16
Calculate the Principal
Isolate P by multiplying 700 by 100 and dividing by 16: P=1670000.
P=4375
A is correct because the principal amount calculated using the simple interest formula is ₹4375.
This concept of percentage-based growth is identical to calculating simple growth in profit/loss and installment schemes.
Get instant step-by-step AI explanations, full shift Previous Year Papers (SSC GD, RRB, SSC JE), and regional rank analysis on the official Examoogle App.
Free Download • 100K+ Aspirants