Simple Interest Ques 16
Question-
A sum was invested at a certain rate of simple interest for two years. If the sum were invested at $3 \%$ more rate of interest, it would have fetched ₹ 72 more. What is the sum?
(1) ₹ 1000
(2) ₹ 1200
(3) ₹ 1150
(4) ₹ 1250
(5) None of these
(IDBI Officer Grade Exam. 22.08.2014)
Show Answer
Correct Answer: (2)
Solution: (2)
Required sum $= \text{₹} P$
$ \frac { \text {Principal} \times \text {Difference of rates} \times \text { Time }}{100}=72$
$ \Rightarrow \frac{P \times 3 \times 2}{100}=72 $
$\Rightarrow P=\frac{72 \times 100}{3 \times 2}= \text{₹} 1200$
BETA
