PRC-2 · Chapter 4 · Question 37 of 60
If you invest Rs. 10,000 for 3 years at a simple interest rate of 8% per annum, what is the total interest earned?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Rs. 2,400
Explanation
Simple Interest = P × r × t. Here, 10,000 × 0.08 × 3 = Rs. 2,400.
More Linear Programming MCQs
- Q39A 'Sinking Fund' is specifically designed to:
- Q40If interest is compounded 'continuously', which mathematical constant is utilized in the formula?
- Q41The 'Rule of 72' is a quick mental shortcut used to estimate:
- Q42In an 'Annuity Due', when are the periodic payments made?
- Q43What is 'Amortization' in the context of a loan?