hamburger menu
All Coursesall course arrow
adda247
reward-icon
adda247
    arrow
    arrow
    arrow
    Damani purchased an item costing Rs.7,500 and paid Rs.3,500 as a down payment for the same. If the simple interest charged for the remaining amount is
    Question

    Damani purchased an item costing Rs.7,500 and paid Rs.3,500 as a down payment for the same. If the simple interest charged for the remaining amount is 9% per annum and Damani cleared all dues after 4 months of the purchase, how much did Damani pay after 4 months as interest?

    A.

    Rs. 120

    B.

    Rs. 100

    C.

    Rs. 132

    D.

    Rs. 125

    Correct option is A

    Balance amount = 7500 - 3500 = 4000
    Interest for 4 months = 9%/3 = 3%
    Interest paid = 4000 × 3/100 = 120

    Free Tests

    Free
    Must Attempt

    SSC GD PYP (Held on 4 Feb 2025 S1)

    languageIcon English
    • pdpQsnIcon80 Questions
    • pdpsheetsIcon160 Marks
    • timerIcon60 Mins
    languageIcon English
    Free
    Must Attempt

    Hindi Section Test 1

    languageIcon English
    • pdpQsnIcon20 Questions
    • pdpsheetsIcon40 Marks
    • timerIcon12 Mins
    languageIcon English
    Free
    Must Attempt

    SSC GD Constable Full Mock Test 1

    languageIcon English
    • pdpQsnIcon80 Questions
    • pdpsheetsIcon160 Marks
    • timerIcon60 Mins
    languageIcon English

    Similar Questions

    test-prime-package

    Access ‘SSC CGL Tier I’ Mock Tests with

    • 60000+ Mocks and Previous Year Papers
    • Unlimited Re-Attempts
    • Personalised Report Card
    • 500% Refund on Final Selection
    • Largest Community
    students-icon
    354k+ students have already unlocked exclusive benefits with Test Prime!
    Our Plans
    Monthsup-arrow