Simple Interest - Quantitative Aptitude (MCQ) questions for Q. 98

Q.  What is the minimum number of years upon which SI on Rs 2600 at 6.67% interest rate will be in whole number?
- Published on 15 Jun 15

a. 2
b. 6
c. 3
d. 4

ANSWER: 3
 
Simple Interest =Principal * Rate * Time

Principal = 2600 Rs

Interest Rate = 6.67%

=> SI = 2600 * (20/3)*Time

SI of the number will be a whole number for the first time when time is three as denominator of rate is 3.

Hence time should be set to 3 years.

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