Question

Rs 3000 amounts to Rs x in 4 years at the rate of 2^1/2% simple interest. The value of x is_____
(Rs 3250/3500/3300/4500)​

Answer 1

Simple Interest = PRT/100 (P=principal, R=rate, T=time, in yrs)

$\frac{PRT}{100}\\\frac{4000 * 2.5 * 4}{100}\\\frac{4000 * 10}{100} \\\frac{40000}{100} \\Ans. = Rs. 4000$

Hence, x = Rs. 4,000