Alfred wants to invest $$ 4, 000$ at $6 %$ simple interest rate for $5$ years. How much interest will he receive?

$240

No worries! We‘ve got your back. Try BYJU‘S free classes today!

$480

No worries! We‘ve got your back. Try BYJU‘S free classes today!

$720

No worries! We‘ve got your back. Try BYJU‘S free classes today!

$960

No worries! We‘ve got your back. Try BYJU‘S free classes today!

$1,200

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is E $1,200
Given, Rate of interest $= 6 %$ , number of years $= 5$
The interest alfred receives is $4000 (5 \times \frac{6}{100}) = 4000 \times \frac{30}{100} = 1200$

Suggest Corrections

Similar questions

A tuning fork of frequency 480 Hz is used to vibrate a sono-meter wire having natural frequency 240 Hz. The wire will vibrate with a frequency of

480, 480, 240, 80, 20, 5

32, 16

4 \frac{1}{6}, 5

4.2, 0.7

240

480

Join BYJU'S Learning Program