Quantitative Aptitude • Simple & Compound InterestMedium
A sum of ₹13,000 becomes ₹17,680 in 6 years at simple interest. What is the rate of interest per year?
A. 4.41%
B. 6%✓ Correct Answer
C. 36%
D. 8%
💡 Solution & Explanation
Interest = amount − principal = ₹17,680 − ₹13,000 = ₹4,680. Rate = interest × 100 ÷ (principal × time) = 4,680 × 100 ÷ (13,000 × 6) = 6%. Check: 6% of ₹13,000 is ₹780 per year, and 6 years of that is ₹4,680.
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