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MCQ Problem Solving - Interest

The CAT Online Free Test Prep MCQs Problem Solving - Interest

Problem Solving: Interest

Question:

Find the simple interest on Rs 7000 at 50/3 % for 9 months
Option A:      Rs. 1075
Option B:      Rs. 975
Option C:      Rs. 875
Option D:      Rs. 775
  A     B     C     D  
Show/Hide Answer and Explanation

Correct Answer: C

Explanation Video

Explanation

Using Simple Interest formula: I = Prt

So, by putting the values in the above formula, our result will be.

I = 7000 × 50 × 9 3 × 12 × 100 = 875

[Please note that we have divided by 12 as we converted 9 months in a year format]
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How to Solve Interest

For Interest question first understand the statement and the question stem. Try to solve and click the corresponding answer option. The drop down will appear to show the correct answer and explanation.