Home › SBI PO › Quantitative Aptitude › Simple Interest › Simple interest on 8,000 rupees at 5 per cent fo…
Simple interest on 8,000 rupees at 5 per cent for 2 years is:
A600 rupees
B800 rupees
C400 rupees
D200 rupees
Answer & Solution
Correct answer: B. 800 rupees
1. One year gives 5 per cent of 8,000, that is 400.
2. Two years double it.
3. The interest is 800 rupees.
_Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_
Related questions
The total value of an investment after interest is added is its:Money the depositor earns from a bank account is also called:Using 360 rather than 365 days makes the interest charged:Some banks instead treat a year as having how many days?The day count convention described as Actual is paired with:For a loan quoted in days, the daily rate divides the annual rate by:A 6,000 rupee loan at 5 per cent for 2 years has a payoff of:A 10,000 rupee loan at 8 per cent for 3 years has a payoff of: