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    Question

    At a simple interest rate of 20% per year for three years, 'P' invested Rs. 'p + 250', and for two years, Rs. 'p + 500' at a simple interest rate of 30% per year. Find 'p''s' value if the total interest received by 'P' is Rs. 1950.

    A 1250 Correct Answer Incorrect Answer
    B 1150 Correct Answer Incorrect Answer
    C 1650 Correct Answer Incorrect Answer
    D 2525 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, 0.20 × 3 × (p + 250) + 0.30 × 2 × (p + 500) = 1950 Or, 0.6p + 0.6p = 1950 – 150 – 300 Or, 1.2p = 1500 Or, p = 1250

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