Question

A sum, when invested at 10% simple interest per annum, amounts to ₹4560 after 2 years. What is the simple interest (in ₹) on the same sum at the same rate of interest in 1 year?

• A. 1520
• B. 380
• C. 190
• D. 760

Answer 1

Answer:

B. 380

The simple interest on the same sum at the same rate for 1 year is ₹380.

1. Find the Principal (Sum):

   • The formula for total Amount ($A$) in simple interest is: $A = P \times (1 + \frac{R \times T}{100})$

   • Here, $A = 4560$, $R = 10\%$, and $T = 2$ years.

   • $4560 = P \times (1 + \frac{10 \times 2}{100})$

   • $4560 = P \times (1 + 0.20) = 1.20P$

   • $P = \frac{4560}{1.20} =$ ₹3800

2. Calculate the Simple Interest for 1 Year:

   • Simple Interest ($SI$) = $\frac{P \times R \times T}{100}$

   • Here, $P = 3800$, $R = 10\%$, and $T = 1$ year.

   • $SI = \frac{3800 \times 10 \times 1}{100} =$ ₹380