What sum of money (in ₹) will yield ₹720 as simple interest in... | Mathematics MCQ | Examoogle

Examoogle • User • info@examoogle.com • EE-2024-8821

Chapter 1 of 12 • Page 1 of 248🔒 Protected PDF • Watermarked

Back to Practice Questions

MathematicsSimple & Compound Interest

Prev Next

What sum of money (in ₹) will yield ₹720 as simple interest in 3 years at 8% per annum?

2500

3200

3000

3400

Correct Answer

📐 MA • Math Direct FormulaMathematicsSimple & Compound Interest

Option C

3000

Quick Summary:

Calculate total percentage interest: $R \times T = 8 \times 3 = 24\%$ . Since $24\%$ of $P = 720$ , then $1\% = 30$ , so $100\% = 3000$ .

🎯

Crack Simple & Compound Interest with Examoogle SuperTeachers

Get Free Demo Classes & Live Mocks →

📐MAMath SolutionDirect Formula

📋 Given

Simple Interest (SI) = ₹720, Time (T) = 3 years, Rate of interest (R) = 8% per annum.

🔢 Formula Used

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

⚡ Exam Hall Shortcut / Speed Trick

Calculate total percentage interest: $R \times T = 8 \times 3 = 24\%$ . Since $24\%$ of $P = 720$ , then $1\% = 30$ , so $100\% = 3000$ .

⚠️ Common Student Trap / Pitfall

Students often divide the Interest by the Rate and Time without multiplying by 100, or they confuse SI with CI (Compound Interest) formula.

📊 Diagram / Illustration

🔢 Step-by-Step Solution

Identify given variables

Identify the values: Simple Interest $SI = 720$ , Rate $R = 8$ , and Time $T = 3$ .

SI=720,R=8,T=3SI = 720, R = 8, T = 3SI=720,R=8,T=3

Apply Simple Interest formula

The formula for the principal $P$ is derived from $SI = \frac{P \times R \times T}{100}$ . Rearranging gives $P = \frac{SI \times 100}{R \times T}$ .

P=720×1008×3P = \frac{720 \times 100}{8 \times 3}P=8×3720×100​

Calculation

Simplify the denominator: $8 \times 3 = 24$ . Then divide the numerator: $720 / 24 = 30$ . Finally, multiply by 100 to get the principal.

P=7200024=3000P = \frac{72000}{24} = 3000P=2472000​=3000

✅

C is correct because calculating the principal using the formula $P = \frac{720 \times 100}{8 \times 3}$ results in ₹3000.

Core Concepts Used

Click any tag to open in AI Tutor

Simple Interest Principal Calculation Percentage Basics

💡 EXAM TIP

This concept is the foundation for Compound Interest questions; always master the SI base formula before tackling CI where the principal changes annually.

Was this solution helpful?

⚡ Practice on Android App · 4.8 ★

Solve 10,000+ More Questions with AI Tutor

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

Discussion (0)

Loading discussion...

Prev Next

Correct Answer

Solve 10,000+ More Questions with AI Tutor

Related Questions

Discussion (0)