Difficulty: Easy
Correct Answer: ₹330
Explanation:
Introduction:
This question tests converting a non-standard rate statement (“paise per rupee per month”) into a percentage and applying simple interest for a time given in months. The phrase 5 paise per rupee per month means interest is 5 paise for every 1 rupee each month, which equals 5% per month. Then we apply SI = (P * r * t) / 100 using monthly time units consistently.
Given Data / Assumptions:
Concept / Approach:
Because the rate is explicitly “per month,” we can keep time in months (no need to convert to years). Substitute P = 600, r = 5, t = 11 into the simple interest formula and compute.
Step-by-Step Solution:
SI = (P * r * t) / 100
SI = (600 * 5 * 11) / 100
SI = (600 * 55) / 100
SI = 33000 / 100
SI = 330
Verification / Alternative check:
5% of ₹600 per month is ₹30 per month. Over 11 months, interest = 30 * 11 = ₹330, matching the formula result.
Why Other Options Are Wrong:
₹30 is only one month’s interest. ₹33 and ₹3.30 come from decimal mistakes. ₹300 is close but does not match 11 months exactly. Only ₹330 fits correctly.
Common Pitfalls:
Converting to annual rate unnecessarily (which can still work if done correctly), confusing paise with rupees, or forgetting to multiply by 11 months.
Final Answer:
The simple interest is ₹330.
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