Simple Interest - Quantitative Aptitude (MCQ) questions for Q. 21066

Q.  Mr. Karan borrowed a certain amount at 6% per annum simple interest for 9 years. After 9 years, he returned Rs. 8110/-. Find out the amount that he borrowed.
- Published on 19 Apr 16

a. Rs. 4,900
b. Rs. 5,000
c. Rs. 5,100
d. Rs. 5266
e. None of these

ANSWER: Rs. 5266
 
Let us assume Mr. Karan borrowed amount is Rs. A. (the principal)
By formula of simple interest, S.I. = PRT / 100
Where P = The principal, R = Rate of interest as a %, T = Time in years
S.I. = (P * 6 * 9)/100 = 54 P/100
Amount = Principal + S.I.
8110 = P + (54P/100)
8110 = (100P + 54P)/100
8110 = 154P/100
P = (8110 * 100)/154 = Rs. 5266.233

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