Interest

MCQ - 225-12992

Question:

How long it will take a principal of Rs. 24000 to amount to Rs. 28800 at a simple interest rate of 5% per annum?

1 years
4 years
8 years
4 years

Correct Answer: B

Explanation:

How long it will take a principal of Rs. 24000 to amount to Rs. 28800 at a simple interest rate of 5% per annum?

PresentValue =24000, Future Value = 28800, r = 5% , t = ?

Interest = I = FV - PV = 28800 - 24000 = 4800

Using Simple Interest formula: I = Prt

t = $\frac{I}{\Pr}$

t = $\frac{4800 × 100}{24000 × 5}$ = 4

Previous Question

Next Question

Back to Section

Record Performance

1297 MCQ for effective preparation of the test of Interest of Word Problems section.

Read the MCQ statement: How long it will take a principal of Rs. 24000 to amount to Rs. 28800 at a simple interest rate of 5% per annum? , keenly and apply the method you have learn through the video lessons for Interest to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 225-12992.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

Share This Page

Full Films

TV Serials

Short Films

Upcoming Films