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SSC MTS 2024 · PYQ · Simple Interest · medium

What sum (in ₹) will earn a simple interest of ₹240 in 4 years at 20% per year rate of interest?

Answer

The correct answer is B: 300. Using SI = P×R×T/100: 240 = P×20×4/100 → 240 = 80P/100 → P = 240×100/80 = ₹300.

  1. A.150
  2. B.300✓ Correct
  3. C.600
  4. D.450

Explanation

Using SI = P×R×T/100: 240 = P×20×4/100 → 240 = 80P/100 → P = 240×100/80 = ₹300.
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