RRB NTPC · Question 69
A sum of Rs 5,000 is invested at 10% simple interest per annum. In how many years will the amount of interest become Rs. 1,500?
Show answer & explanation
Answer: (B) 3
Explanation
Interest per year = 10% of 5000 = Rs 500. Rs 1500 needs 1500/500 = 3 years.