Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
106 views
in Simple Interest by (239k points)
closed by
What sum of money will amount to Rs.416 in 1 year 4 months at 3% per annum simple interest?
1. Rs.395
2. Rs.400
3. Rs.410
4. Rs.390

1 Answer

0 votes
by (237k points)
selected by
 
Best answer
Correct Answer - Option 2 : Rs.400

Given

Amount = Rs. 416

Time = 1 year 4 months

Rate of interest = 3%

Formula used

SI = (P × R × T)/100

Amount(A) = P + SI

SI → Simple interest, P → Principal, R → Rate, T → Time

Calculation

Time = 1 year 4 months = 4/3 years

A = P + (P × R × T)/100

⇒ 416 = P + (P × 3 × 4/3)/100

⇒ 41600 = 100P + 4P

⇒ 104 P = 41600

⇒ P = Rs. 400

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...