What is the simple interest on Rs2 000 for 4 years at the rate of 10 per annum ........

Quantitative Aptitude (MTS) Simple Interest

What is the simple interest on Rs2,000 for 4 years at the rate of 10% per annum?

This questions was previously asked in

SSC MTS 25th July 2022 Shift-3

Rs500

Rs800

Rs600

Rs1,000

- The formula for simple interest is: Simple Interest = (Principal × Rate × Time) / 100

- Here, Principal = Rs2,000, Rate = 10% per annum, Time = 4 years

- Calculation: Simple Interest = (2000 × 10 × 4) / 100 = (2000 × 40) / 100 = 80000 / 100 = Rs800

- Option 1 (Rs500): This would be correct if the time or rate were lower.

- Option 3 (Rs600): This is lower than what the formula gives for the given numbers.

- Option 4 (Rs1,000): This is higher than the right answer.

- Correct Answer: Option 2 – Rs800

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