📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    One Click Can Change Your Exam Journey—Do It Before It Ends! ⏰

    Question

    Ravi invests Rs. 2,000 on simple interest at 'a%' p.a.

    for 4 years and earned an interest of Rs. 800. His friend Vinay invests Rs. 4,800 on simple interest at 30% p.a. for 'b' months and earned an interest of Rs. 3,600. Find the product of 'a' and 'b'.
    A 320 Correct Answer Incorrect Answer
    B 250 Correct Answer Incorrect Answer
    C 300 Correct Answer Incorrect Answer
    D 165 Correct Answer Incorrect Answer

    Solution

    Simple interest = (Principal Ă— rate Ă— time) Ă· 100 ATQ, 800 = 2,000 Ă— a Ă— 4 Ă· 100 Or, 800 = 80a So, 'a' = 10 And, 3,600 = (4,800 Ă— 30 Ă— b) Ă· (12 Ă— 100) ...... (since, time is in months) Or, 3,600 = 120b Or, 'b' = 30 Therefore, the required product = (a Ă— b) = 10 Ă— 30 = 300

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question