alleryRaghu invested ₹1000 and received ₹1300 at 6% per annum simple interest after X years. Find X.
A4 years
B3 years
C2 years
D5 years
Answer & Solution
Correct answer: D. 5 years
1. Interest earned = 1300 − 1000 = ₹300.
2. SI = P × R × T / 100, so 300 = 1000 × 6 × X / 100 = 60X.
3. X = 300 / 60 = 5 years.
_Source: RRB Group D CEN-02/2018 PYQ, Q.28._
Keep practising Simple Interest
Browse all Simple Interest questions for Accenture Hiring, or explore more Quantitative Aptitude topics.
Related questions
For the same principal, rate and a period of one year, compound interest compounded annualAt simple interest, a sum doubles itself in 8 years. The annual rate is:Find the simple interest on 5,000 at 8% per annum for 3 years.For 10,000 at 10% per annum for 2 years, compound interest exceeds simple interest by:20,000 is borrowed for 2 years at 8% compounded annually. The compound interest is:Compound interest differs from simple interest because compound interest is calculated on:Find the simple interest on 15,000 at 5% per annum for 2 years.A sum of 10,000 is borrowed at 15% per annum simple interest for 2 years. The amount repay