Find the simple interest on: Rs 3000 for 4 years at 8% per annum.

see full answer

High-Paying Jobs That Even AI Can’t Replace — Through JEE/NEET

🎯 Hear from the experts why preparing for JEE/NEET today sets you up for future-proof, high-income careers tomorrow.

An Intiative by Sri Chaitanya

Rs. 3000

Rs. 900

Rs. 1000

Rs. 960

answer is D.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

Concept- Simple method is a method of calculating the interest charge on a loan. It is the amount of interest charged on a sum at a given rate and for the particular period of time.
Simple interest = principal rate time 100
Step 1- using the simple interest formula-
Simple interest = principal rate time 100 Step 2 - Substituting the given values, we get,
Simple interest(SI) = (3000× 8×4)/100
SI = 30×8×4
SI = 960
The simple interest on Rs 3000 for 4 years at 8% per annum is Rs. 960.
Hence, the correct answer is option 4) Rs. 960

Watch 3-min video & get full concept clarity

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Online Course for IIT JEE

Best Online Course for NEET

Best Online Course for CBSE

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Get Expert Academic Guidance – Connect with a Counselor Today!

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Online Course for IIT JEE

Best Online Course for NEET

Best Online Course for CBSE