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MCA NIMCET Previous Year Questions (PYQs)

MCA NIMCET Interest PYQ

MCA NIMCET PYQ
Hari invested an amount at a certain rate of interest on simple interest and he got 60% more amount after eight years. If he invests Rs. 9600 at the same rate of interest on simple interest, then find the total interest he would get after four years?





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MCA NIMCET Previous Year PYQMCA NIMCET NIMCET 2023 PYQ

Solution

Given: 60% interest in 8 years using Simple Interest (SI).

So, rate (R) = (60 / 8) = 7.5% per annum

Now, SI on ₹9600 for 4 years at 7.5%:

SI = (9600 × 7.5 × 4) / 100 = ₹2880

✅ Final Answer: ₹2880


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