New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    How much a sum was put at fixed rate of simple interest

    for 5 years. If the interest would have been 6 % higher than the foregoing rate, then Rs. 7500 would have been grossed more. Find the sum?
    A Rs 20000 Correct Answer Incorrect Answer
    B RS 24000 Correct Answer Incorrect Answer
    C Rs 25000 Correct Answer Incorrect Answer
    D Rs 15000 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    Let the sum be take as (a) and the rate of interest be taken as  r %,  According to the question there would be ,  [a x 5 x (r + 6)]/100 – (a x 5 x r)/100 = 7500  (5ar + 30a)/100 – 5ar/100 = 7500  30a/100 = 7500  a =7500 x (100/30)  a = 25000  so, Sum (a) will be  = Rs. 25000

    Practice Next