Multiple Choice Questions on Priyansh borrowed Rs 5000 from Sudhakar at simple interest After 4 years Sudhakar got Rs 1000 m........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Priyansh borrowed Rs 5000 from Sudhakar at simple interest After 4 years Sudhakar got Rs 1000 m...........

Quantitative Aptitude ( CCS) Simple Interest
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    Priyansh borrowed Rs. 5000 from Sudhakar at simple interest. After 4 years Sudhakar got Rs. 1000 more than what he had given to Priyansh. The rate of interest per annum is

    2%

    Incorrect Answer

    5%

    Correct Answer

    8%

    Incorrect Answer

    10%

    Incorrect Answer
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    Explanation:

    Principal = Rs.5000

    I = Rs.1000.

    N = 4 years

    R = 100I /PN = 100 x 1000 /5000 x 4

    = 100 /20 = 5%

    Hence, option 2 is the correct answer.

    By: Amit Kumar
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