Quantitative Aptitude • Simple & Compound InterestEasy
What is the simple interest on ₹3,000 at 6% per year for 5 years?
A. ₹3,900
B. ₹1,080
C. ₹900✓ Correct Answer
D. ₹180
💡 Solution & Explanation
Simple interest = principal × rate × time ÷ 100 = 3,000 × 6 × 5 ÷ 100 = ₹900. The interest is the same every year (₹180 per year). The total amount after 5 years would be ₹3,900, but the question asks only for the interest.
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