send mail to support@abhimanu.com mentioning your email id and mobileno registered with us! if details not recieved
Resend Opt after 60 Sec.
By Loging in you agree to Terms of Services and Privacy Policy
Claim your free MCQ
Please specify
Sorry for the inconvenience but we’re performing some maintenance at the moment. Website can be slow during this phase..
Please verify your mobile number
Login not allowed, Please logout from existing browser
Please update your name
Subscribe to Notifications
Stay updated with the latest Current affairs and other important updates regarding video Lectures, Test Schedules, live sessions etc..
Your Free user account at abhipedia has been created.
Remember, success is a journey, not a destination. Stay motivated and keep moving forward!
Refer & Earn
Enquire Now
My Abhipedia Earning
Kindly Login to view your earning
Support
Type your modal answer and submitt for approval
A sum of money, when invested at the rate of 15% per annum at simple interest, amounts to Rs26,000 in 2 years. What is the
simple interest that accrued during these 2 years?
Rs7,500
Rs6,000
Rs6,500
Rs8,800
Let's go through the problem step by step.
- Principal Calculation: The total amount after 2 years is Rs26,000. We're looking to find the interest accrued over these 2 years since the amount includes both principal and interest.
- Simple Interest Formula: Simple Interest (SI) is calculated as \(SI = \frac{{P \times R \times T}}{100}\), where P is principal, R is rate, and T is time.
- Total amount formula: The total amount (A) is the sum of the principal and interest, \(A = P + SI\).
- Given: The rate is 15%, time is 2 years, and the total amount is Rs26,000.
- Set up the equation: \(P + \frac{{P \times 15 \times 2}}{100} = 26,000\).
- Solve: \(P + \frac{{30P}}{100} = 26,000\); Simplify to get \(1.3P = 26,000\); Hence, \(P = 26,000 / 1.3 = 20,000\).
- Interest Calculation: \(SI = \frac{{20,000 \times 15 \times 2}}{100} = 6,000\).
- Options Analysis:
- Option 1, Rs7,500: Too high.
- Option 2, Rs6,000: Matches our calculation correctly.
- Option 3, Rs6,500: Too high.
- Option 4, Rs8,800: Far too high.
By: santosh ProfileResourcesReport error
Access to prime resources
New Courses