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    Question

    What sum of money must be given at simple interest for 3

    months at 5% per annum in order to earn Rs. 220 interest?
    A Rs.17600 Correct Answer Incorrect Answer
    B Rs.20800 Correct Answer Incorrect Answer
    C Rs.16500 Correct Answer Incorrect Answer
    D Rs.18000 Correct Answer Incorrect Answer

    Solution

    Let the sum of money be Rs. P. SI = Rs. 220, T = 1/4 year and R = 5% SI = (P × R × T)/100 ⇒  220 = P × (5/100) × (1/4) ⇒  P = Rs. 17600

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