Quantitative Aptitude • Simple & Compound InterestEasy
In how many years will ₹34,000 earn a simple interest of ₹20,400 at 15% per year?
A. 5 years
B. 8 years
C. 15 years
D. 4 years✓ Correct Answer
💡 Solution & Explanation
Interest for one year = 15% of ₹34,000 = ₹5,100. The total interest is ₹20,400, so the time = 20,400 ÷ 5,100 = 4 years. Using the formula: time = interest × 100 ÷ (principal × rate) = 20,400 × 100 ÷ (34,000 × 15) = 4.
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