More Questions from Simple Interest

What would be the simple interest obtained on an amount of ₹ 5760 at the rate of 6 p.c.p.a. after 3 years.?

Aptitude Simple Interest Difficulty: Easy
Choose an option
  • A
    ₹ 1036.80
  • B
    ₹ 1063.80
  • C
    ₹ 1336.80
  • D
    ₹ 1666.80
  • E
    None of these

Answer

Correct Answer: ₹ 1036.80

Explanation

### Concept & Formula To calculate the simple interest, we use the standard formula directly. $$SI = \frac{P \times R \times T}{100}$$ ### Step-by-Step Solution * **Given:** * Principal ($P$) = ₹ 5760 * Rate ($R$) = 6% p.c.p.a. * Time ($T$) = 3 years * **Calculation:** * $SI = \frac{5760 \times 6 \times 3}{100}$ * $SI = \frac{5760 \times 18}{100}$ * $SI = \frac{103680}{100}$ * $SI = 1036.80$ ### Exam Strategy & Shortcut For simple interest calculations where the denominator is 100, avoid full division initially. Just multiply the numerators ($576 \times 18$) and place the decimal point two spots from the right. Observing the last digit: $6 \times 8 = 48$, so the final digit before the decimal zero must be 8. Option (a), (b), (c), and (d) all end in .80, so calculation is required, but estimation helps: $5700 \times 18\%$ is slightly over 1000, confirming ₹ 1036.80. ### Common Pitfall A common mistake is misplacing the decimal point during the final division by 100, leading to off-by-magnitude errors. ### Final Answer Therefore, the correct answer is **₹ 1036.80**.
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