InterviewSolution
Saved Bookmarks
| 1. |
What sum of money will amount to Rs.416 in 1 year 4 months at 3% per annum simple interest?1. Rs.3952. Rs.4003. Rs.4104. Rs.390 |
|
Answer» Correct Answer - Option 2 : Rs.400 Given Amount = Rs. 416 Time = 1 year 4 months Rate of interest = 3% Formula used SI = (P × R × T)/100 Amount(A) = P + SI SI → Simple interest, P → Principal, R → Rate, T → Time Calculation Time = 1 year 4 months = 4/3 years A = P + (P × R × T)/100 ⇒ 416 = P + (P × 3 × 4/3)/100 ⇒ 41600 = 100P + 4P ⇒ 104 P = 41600 ⇒ P = Rs. 400 |
|