New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    A certain sum amounts to ₹13000 after 4 years and to

    ₹16000 after 8 years at the same rate percent p.a. at simple interest. The simple interest (in ₹) on the same sum at 10% p.a. for 2(1/5) years will be:
    A 1600 Correct Answer Incorrect Answer
    B 2200 Correct Answer Incorrect Answer
    C 2000 Correct Answer Incorrect Answer
    D 1800 Correct Answer Incorrect Answer

    Solution

    As we know in simple interest the interest is always constant if the rate and sum are the same So, Interest for 4 years = 16000 - 13000 ⇒ Rs. 3000 So, for the 1st 4 years, the interest will be Rs. 3000 [As mentioned earlier interest will be the same] So, sum = 13000 - 3000 = Rs. 10000 Now, S.I = (10000 × 10 × 11)/ (100 × 5) = 100 × 2 × 11 = Rs. 2200 ∴ The simple interest (in Rs.) on the same sum at 10% p.a. for 2(1/5) years will be 2200.

    Practice Next

    Relevant for Exams: