Quantitative Aptitude • Simple & Compound InterestEasy
In how many years will ₹37,000 earn a simple interest of ₹17,760 at 8% per year?
A. 8 years
B. 7 years
C. 12 years
D. 6 years✓ Correct Answer
💡 Solution & Explanation
Interest for one year = 8% of ₹37,000 = ₹2,960. The total interest is ₹17,760, so the time = 17,760 ÷ 2,960 = 6 years. Using the formula: time = interest × 100 ÷ (principal × rate) = 17,760 × 100 ÷ (37,000 × 8) = 6.
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