Simple Interest Ques 5
Question-
A certain sum of money amounts to Rs. 1008 in 2 years and the same sum of money amounts to Rs. 1164 in 3 years and 6 months at simple interest. Find the sum and the rate of interest.
(1) Rs. $900,14 \%$ p.a.
(2) Rs. $800,13 \%$ p.a.
(3) Rs. $700,12 \%$ p.a.
(4) Rs. $800,19 \%$ p.a.
(5) Rs. $700,13 \%$ p.a.
(Indian Bank PO (Pre.) Exam, 21.01.2017 (Ist Sitting))
Show Answer
Correct Answer: (2)
Solution: (2)
Let the principal be Rs. $x$.
According to the question,
$x+$ S.I. for 2 years $=$ Rs. 1008 …..(i)
$x+$ S.I. for $\frac{7}{2}$ years $=$ Rs. 1164 …..(ii)
By equation (ii) - (i),
S.I. for $\frac{3}{2}$ years $=$ Rs. $(1164-1008)=$ Rs. 156
$\Rightarrow$ S.I. for 2 years $=\frac{156 \times 2 \times 2}{3}=$ Rs. 208
From equation (i),
$x+208=1008$
$\Rightarrow x=$ Rs. $(1008-208)$ $=$ Rs. 800
$\therefore$ Rate $=\frac{\text { S.I. } \times 100}{\text { Principal } \times \text { Time }}$ $=\frac{208 \times 100}{800 \times 2}=13 \%$ per annum
BETA
