A sum of ₹5,575 is invested at the rate of 8% simple interest per annum for 4 years. What will be the interest (in ₹) payable on maturity? - Quantitative Aptitude MCQ Competitive Exam 2026 | ExamTest.live | ExamTest.live

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A sum of ₹5,575 is invested at the rate of 8% simple interest per annum for 4 years. What will be the interest (in ₹) payable on maturity?

A $1784$
B $1788$
C $1782$
D $1776$

Solution & Step-by-step Explanation

The formula for simple interest is: SI = \frac{P \times R \times T}{100} Given:Principal (P) = ₹5,575Rate (R) = 8% per annumTime (T) = 4 years SI = \frac{5575 \times 8 \times 4}{100} SI = \frac{5575 \times 32}{100} SI = 55.75 \times 32 = 1784 The interest payable on maturity is ₹1784.

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A sum of ₹5,575 is invested at the rate of 8% simple interest per annum for 4 years. What will be the interest (in ₹) payable on maturity?

A

1784

B

1788

C

1782

D

1776

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Simple Interest Interest Calculation

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