Multiple choice

If the simple interest on a certain sum of money at 4% for 5 years is Rs. 800, find the sum.

  1. $4,000$
  2. $0.5%$
  3. $1.5%$
  4. $2%$
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A Correct answer
Explanation

Simple Interest = (P * R * T) / 100. 800 = (P * 4 * 5) / 100. 800 = 20P / 100. 800 = P / 5. P = 4000.

AI explanation

Using the simple interest formula, we have Sum = (Simple Interest * 100) / (Rate * Time). Substituting the given values, we get Sum = (800 * 100) / (4 * 5). This calculates to 80000 / 20, which equals Rs. 4,000.

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