Quantitative Aptitude • Simple & Compound InterestEasy
What is the simple interest on ₹10,000 at 10% per year for 3 years?
A. ₹4,000
B. ₹13,000
C. ₹3,000✓ Correct Answer
D. ₹1,000
💡 Solution & Explanation
Simple interest = principal × rate × time ÷ 100 = 10,000 × 10 × 3 ÷ 100 = ₹3,000. The interest is the same every year (₹1,000 per year). The total amount after 3 years would be ₹13,000, but the question asks only for the interest.
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