Simple Interest Ques 18
Question-
The interest earned when Rs. ‘P’ is invested for four years in a scheme offering $9 \%$ p.a. simple interest is more than the interest earned when the same sum (Rs. $P$) is invested for two years in another scheme offering $12 \%$ p.a. simple interest, by Rs. 360. What is the value of $P$ ?
(1) 2000
(2) 3500
(3) 2500
(4) 4000
(5) 3000
(IBPS Specialist Officer (IT) CWE 14.02.2016)
Show Answer
Correct Answer: (5)
Solution: (5)
S.I. $=\frac{\text { Principal } \times \text { Time } \times \text { Rate }}{100}$
According to the question,
$\frac{P \times 4 \times 9}{100}-\frac{P \times 2 \times 12}{100}=360$
$\Rightarrow \frac{36 P}{100}-\frac{24 P}{100}=360$
$\Rightarrow \frac{12 P}{100}=360$
$\Rightarrow P=\frac{360 \times 100}{12}=$ Rs. 3000
BETA
