hamburger menu
All Coursesall course arrow
adda247
reward-icon
adda247
    arrow
    arrow
    arrow
    Deepa deposited ₹10,000 in a bank on simple interest. After 4 years, she received an amount of ₹12,400. Find the rate of interest.
    Question

    Deepa deposited ₹10,000 in a bank on simple interest. After 4 years, she received an amount of ₹12,400. Find the rate of interest.

    A.

    6% p.a.

    B.

    7% p.a.

    C.

    5.5% p.a.

    D.

    6.5% p.a.

    Correct option is A

    Given:

    Time =4 year

    Amount =₹12400

    Principle =₹10000

    Formula Used:

    Simple Interest = P×r×t100\frac{P \times r \times t }{100}​​

    Interest = Amount - Principle

    Solution:

    Interest = 12400 - 10000 = ₹2400

    2400=10000×r×41002400 = \frac{10000 \times r \times 4 }{100}​​

    r= 6%p.a.

    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

    SSC GD Constable Exam Day Based Mock 1

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

    Mathematics Section Test 1

    languageIcon English
    • pdpQsnIcon20 Questions
    • pdpsheetsIcon40 Marks
    • timerIcon25 Mins
    languageIcon English

    Similar Questions

    test-prime-package

    Access ‘Delhi Police Constable’ Mock Tests with

    • 60000+ Mocks and Previous Year Papers
    • Unlimited Re-Attempts
    • Personalised Report Card
    • 500% Refund on Final Selection
    • Largest Community
    students-icon
    446k+ students have already unlocked exclusive benefits with Test Prime!

    Similar Questions

    Our Plans
    Monthsup-arrow