Simple & Compound Interest · Question 4 · Easy
A sum amounts to ₹7,800 in 3 years at 10% per annum simple interest. What is the sum?
- ₹6,000
- ₹5,800
- ₹6,200
- ₹6,500
Answer and explanation
Answer: A. ₹6,000
Explanation: Amount = P(1 + 3 × 0.10) = 1.3P. So P = 7,800 ÷ 1.3 = ₹6,000.
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