Quantitative Aptitude • Simple & Compound InterestEasy
What is the simple interest on ₹18,500 at 15% per year for 4 years?
A. ₹29,600
B. ₹13,875
C. ₹2,775
D. ₹11,100✓ Correct Answer
💡 Solution & Explanation
Simple interest = principal × rate × time ÷ 100 = 18,500 × 15 × 4 ÷ 100 = ₹11,100. The interest is the same every year (₹2,775 per year). The total amount after 4 years would be ₹29,600, but the question asks only for the interest.
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