A sum of Rs. 2880000 amounts to Rs. 4032000 in 4 years at simple interest. The rate is MCQ with Answer and Explanation

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A sum of Rs. 2880000 amounts to Rs. 4032000 in 4 years at simple interest. The rate is

A. 10%

B. 9%

C. 8%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

SI = 1152000. R = (1152000 × 100)/(2880000 × 4) = 10%.

This question belongs to: Maths Simple Interest

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Practice More Simple Interest Questions

Question #1

In how many years will Rs. 3726000 amount to Rs. 5216400 at 8% simple interest?

A. 6 years

B. 4 years

C. 7 years

D. 5 years

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Correct Answer: Option D

Explanation:
SI = 1490400. T = (1490400 × 100)/(3726000 × 8) = 5 years.

This question belongs to: Maths Simple Interest

Question #2

Simple interest on Rs. 1467000 for 2 years at 40% per annum is

A. Rs. 1173400

B. Rs. 1174000

C. Rs. 1173600

D. Rs. 1173800

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Correct Answer: Option C

Explanation:
SI = (1467000 × 40 × 2)/100 = 1173600.

This question belongs to: Maths Simple Interest

Question #3

In how many years will Rs. 3951000 amount to Rs. 5531400 at 8% simple interest?

A. 4 years

B. 6 years

C. 7 years

D. 5 years

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Correct Answer: Option D

Explanation:
SI = 1580400. T = (1580400 × 100)/(3951000 × 8) = 5 years.

This question belongs to: Maths Simple Interest

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