Question 16
MediumOriginal questionAt simple interest, a sum amounts to ₹9,440 in 3 years and to ₹10,400 in 5 years. What is the sum?
Show the answer and explanation
CorrectNot quiteAnswer B
Correct answer: B
Explanation
The extra 2 years add ₹10,400 − ₹9,440 = ₹960 of interest.
So one year's interest = ₹480.
Sum = ₹9,440 − 3 × ₹480 = ₹9,440 − ₹1,440 = ₹8,000.
Worth noting
₹960 is the interest for 2 years, not 1. Taking it as one year's interest gives ₹6,560; subtracting it only once gives ₹8,480.
- Concept
- Finding the principal from two amounts at simple interest
- Typical timeTypical
- 60 s
- Your timeYours
- —
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