Simple Interest Practice Test 1

Question : 25 of 40

Marks: +1, -0

What interest will be had on Rs. 450 in 2 years if an interest of Re. 0.40 is charged on Re 1 for 4 years?

Solution:

On Re 1 for 4 years interest of Re 0.40 is charged
Hence, on Rs. 100 for 1 year interest of Rs. 10 is charged Now,

I = {450× 10× 2}/100

= Rs. 90

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