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    Question

    Simple interest received at the rate of 16% p.a. for 7

    years on a principal amount of Rs. 4500 is twice of the simple interest received at 10% p.a. for 6 years on the principal amount of Rs. ‘X’. Find the value of ‘X’.
    A 4000 Correct Answer Incorrect Answer
    B 4100 Correct Answer Incorrect Answer
    C 4200 Correct Answer Incorrect Answer
    D 4700 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to the question, (4500 × 0.16 × 7) = 2 × (X × 0.10 × 6) Or, 5040 = 1.2X Or, X = 5040/1.2 = 4200

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