Home › SBI PO › Quantitative Aptitude › Simple Interest › Simple interest on 15,000 rupees at 4 per cent f…
Simple interest on 15,000 rupees at 4 per cent for 5 years is:
A1,500 rupees
B6,000 rupees
C2,250 rupees
D3,000 rupees
Answer & Solution
Correct answer: D. 3,000 rupees
1. One year gives 4 per cent of 15,000, that is 600.
2. Five years give five times that.
3. 600 times 5 comes to 3,000 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: