Simple Interest Practice Test 1

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Question : 21 of 40

Marks: +1, -0

How much interest will a sum of Rs 4,500 earn in 3 years and 4 months at the rate of

9 1/5%

per annum simple interest?

Rs 1,300
Rs 1,380
Rs 1,250
Rs 1,120
Rs 1,260

Solution:

P = Rs 4,500,

R=9 1/5%\p.\a.=46/5%

T = 3 years 4 months

=3 1/3=10/3\years

∴SI={P×R×T}/100

=4500×46/5×10/3×1/100

= Rs 1,380

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