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SSC MTS 2024 · PYQ · Simple Interest · medium

Find the simple interest (in ₹) on ₹2500 as a sum borrowed at 8% per year rate of interest for 5 years.

Answer

The correct answer is A: 1000. SI = Principal × Rate × Time / 100 = 2500 × 8 × 5 / 100 = ₹1000.

  1. A.1000✓ Correct
  2. B.960
  3. C.1040
  4. D.940

Explanation

SI = Principal × Rate × Time / 100 = 2500 × 8 × 5 / 100 = ₹1000.
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