Banking Quantitative Aptitude Sample Paper Quantitative Aptitude Sample Paper-2

The simple interest accrued on an amount at the end of 5 yr at the rate of 12.5% per annum is Rs. 1575. What is the amount?

A) Rs. 2050

B) Rs. 2550

C) Rs. 2250

D) Rs. 2520

E) None of the above

Correct Answer: D

Solution :

[d] Given, simple interest (SI) = Rs. 1575

\[Time\,(t)\,=5yr\]\[\Rightarrow \]\[Rate\,(r)\,=12.5%\]

\[Amount=?\]

We know, simple interest

\[=\frac{\text{Amount}\times \text{Time}\times \text{Rate}}{\text{100}}\]

\[\Rightarrow \] \[\text{1575}=\frac{\text{Amount}\times \text{5}\times \text{12}\text{.5}}{\text{100}}\]

\[\Rightarrow \] \[\text{Amount}=\frac{1575\times 100}{5\times 12.5}\]

\[\Rightarrow \] \[\text{Amount}=\text{Rs}\text{.}\,\text{2520}\]