Quantitative Aptitude • Simple & Compound InterestEasy
What is the simple interest on ₹26,000 at 4% per year for 2 years?
A. ₹1,040
B. ₹3,120
C. ₹28,080
D. ₹2,080✓ Correct Answer
💡 Solution & Explanation
Simple interest = principal × rate × time ÷ 100 = 26,000 × 4 × 2 ÷ 100 = ₹2,080. The interest is the same every year (₹1,040 per year). The total amount after 2 years would be ₹28,080, but the question asks only for the interest.
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