Quantitative Aptitude • Simple & Compound InterestMedium
The simple interest on a sum of money at 4% per year for 4 years is ₹6,320. What is the sum?
A. ₹1,011.2
B. ₹1,58,000
C. ₹45,820
D. ₹39,500✓ Correct Answer
💡 Solution & Explanation
Simple interest = principal × rate × time ÷ 100, so principal = interest × 100 ÷ (rate × time) = 6,320 × 100 ÷ (4 × 4) = ₹39,500. Check: 4% of ₹39,500 is ₹1,580 per year, and 4 years of that is ₹6,320.
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