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

$Amount, A = P+ PnR/100$

$4560=P+[P\times2\times10/100]$

$4560=P+P/5$

$4560=6P/5$

$P=4560\times5/6$

$=3800$

The simple interest (in ₹) on the same sum at the same rate of interest in 1 year

$I=PnR/100$

$=3800\times1\times10/100$

$=380$