Question : What is the simple interest on a principal of INR 24,000 for 4 years at the rate of 5% per annum?
Option 1: INR 4,800
Option 2: INR 3,600
Option 3: INR 5,600
Option 4: INR 5,000

Question

Question : What is the simple interest on a principal of INR 24,000 for 4 years at the rate of 5% per annum?

Option 1: INR 4,800

Option 2: INR 3,600

Option 3: INR 5,600

Option 4: INR 5,000

Team Careers360 · Accepted Answer

Correct Answer: INR 4,800

Solution : Given:
Principal = INR 24,000
Time = 4 years
Rate = 5% per annum
So, the Simple interest = $\frac{ ext{Principal × Rate × Time}}{100}$
= $\frac{ ext{24000 × 5 × 4}}{100}$
= 4,800
Hence, the correct answer is INR 4,800.

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Question : What is the simple interest on a principal of INR 24,000 for 4 years at the rate of 5% per annum?Option 1: INR 4,800Option 2: INR 3,600Option 3: INR 5,600Option 4: INR 5,000

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Question : What is the simple interest on a principal of INR 24,000 for 4 years at the rate of 5% per annum?
Option 1: INR 4,800
Option 2: INR 3,600
Option 3: INR 5,600
Option 4: INR 5,000