What would be the simple interest on an amount of Rs 2020 invested for 3 years at the simple interes

M4maths Previous Puzzles

03 Apr 2020 Simple Interest

What would be the simple interest on an amount of Rs 2020 invested for 3 years at the simple interest rate of 4%?

OPtion

1) 2520
2) 2262.4
3) 2462.4
4) 2362.4
5) 2162.4
6) 315.4
7) 242.4
8) 3750.5
9) 3501.9
10) None of these

Solution

SI = PRT/100 = 2020*4*3/100= 242.4

Correct Option: 7 Best Solution (5)