Quantitative Aptitude • Simple & Compound InterestEasy
In how many years will ₹37,000 earn a simple interest of ₹4,440 at 4% per year?
A. 4 years
B. 2 years
C. 6 years
D. 3 years✓ Correct Answer
💡 Solution & Explanation
Interest for one year = 4% of ₹37,000 = ₹1,480. The total interest is ₹4,440, so the time = 4,440 ÷ 1,480 = 3 years. Using the formula: time = interest × 100 ÷ (principal × rate) = 4,440 × 100 ÷ (37,000 × 4) = 3.
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