Quantitative Aptitude • Simple & Compound InterestMedium
The simple interest on a sum of money at 12% per year for 5 years is ₹16,500. What is the sum?
A. ₹9,900
B. ₹27,500✓ Correct Answer
C. ₹44,000
D. ₹1,37,500
💡 Solution & Explanation
Simple interest = principal × rate × time ÷ 100, so principal = interest × 100 ÷ (rate × time) = 16,500 × 100 ÷ (12 × 5) = ₹27,500. Check: 12% of ₹27,500 is ₹3,300 per year, and 5 years of that is ₹16,500.
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