Multiple choice

Find the simple interest value gained on a core principal capital of ₹6,000 across an investment window of 4 years at a steady interest rate of 6% per annum.

  1. ₹1,240

  2. ₹1,360

  3. ₹1,440

  4. ₹1,500

  5. ₹1,600

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

SI = P * R * T / 100 = 6000 * 6 * 4 / 100 = 60 * 24 = 1440.

AI explanation

Using the Simple Interest formula, SI equals P times R times T divided by 100. Substituting the values gives 6,000 times 6 times 4 divided by 100, which simplifies to 60 times 24. The simple interest gained over the investment window is 1,440.