Quantitative Aptitude • Simple & Compound InterestMedium
The simple interest on a sum of money at 10% per year for 6 years is ₹15,000. What is the sum?
A. ₹1,50,000
B. ₹25,000✓ Correct Answer
C. ₹9,000
D. ₹40,000
💡 Solution & Explanation
Simple interest = principal × rate × time ÷ 100, so principal = interest × 100 ÷ (rate × time) = 15,000 × 100 ÷ (10 × 6) = ₹25,000. Check: 10% of ₹25,000 is ₹2,500 per year, and 6 years of that is ₹15,000.
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