What sum (in ₹) will earn a simple interest of ₹240 in 4 years at 16% per year rate of interest?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 375.
SI = PRT/100
⇒ 240 = P × 4 × 16/100
⇒ P = 240 × 100/64
⇒ P = 375