In how many years will Rs. 2421000 amount to Rs. 3389400 at 8% simple interest? MCQ with Answer and Explanation

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In how many years will Rs. 2421000 amount to Rs. 3389400 at 8% simple interest?

A. 6 years

B. 5 years

C. 4 years

D. 7 years

Answer: Option B

Solution (By JKSSB Mock Tests)

SI = 968400. T = (968400 × 100)/(2421000 × 8) = 5 years.

This question belongs to: Maths Simple Interest

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Practice More Simple Interest Questions

Question #1

A sum of Rs. 504000 amounts to Rs. 705600 in 4 years at simple interest. The rate is

A. 8%

B. 10%

C. 9%

D. 12%

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Correct Answer: Option B

Explanation:
SI = 201600. R = (201600 × 100)/(504000 × 4) = 10%.

This question belongs to: Maths Simple Interest

Question #2

A sum becomes Rs. 13500 in 3 years at 5% SI per annum. The principal is

A. Rs. 12000

B. Rs. 11000

C. Rs. 10000

D. Rs. 9000

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Correct Answer: Option A

Explanation:
Interest = 13500 - P. SI = (P × 5 × 3)/100 = 13500 - P. Solving gives P = 12000.

This question belongs to: Maths Simple Interest

Question #3

The rate at which Rs. 324000 amounts to Rs. 421200 in 3 years is

A. 8%

B. 12%

C. 10%

D. 9%

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Correct Answer: Option C

Explanation:
SI = 97200. R = (97200 × 100)/(324000 × 3) = 10%.

This question belongs to: Maths Simple Interest

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