The simple interest received on a certain sum is Rs. 1782 for 3 years. What will the simple interest be on the same sum at the same interest rate for 10 years?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. Rs. 5940
We know that,
S.I. = (P × R × T)/100
here, S.I. = Simple Interest, P = Principal, R = Rate, T = Time
⇒1782 = (P × R × 3)/100
⇒59400 = P × R......(1)
Now, S.I on the same sum for 10 years
S.I. = (59400 × 10)/100
S.I. = 5940
The simple interest on the same sum at the same interest rate for 10 years will be Rs.5940.