Quick Method for solving Simple Interest Questions - Type 1

Ashish

Administrator
Staff member
#1
Below type of questions can be solved directly by applying Simple Interest Formula.

1) How much time will it take for an amount of Rs. 1500 to get Rs. 225 as interest at 5% per annum of simple interest ?

a) 1 year
b) 2 years
c) 4 years
d) 3 years



Answer: 3 years


2) What will be the simple interest on an amount of Rs. 2000 in 3 years at interest 4% per annum?
A. Rs. 220
B. Rs. 240
C. Rs. 250
D. Rs. 280



Answer: Rs 240