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    Question

    A sum was lent at simple interest for 2.5 years. If the

    rate had been 7.5% more, the interest would have been Rs. 375 extra. What was the amount lent?
    A Rs.2000 Correct Answer Incorrect Answer
    B Rs.2500 Correct Answer Incorrect Answer
    C Rs.1520 Correct Answer Incorrect Answer
    D Rs.1800 Correct Answer Incorrect Answer

    Solution

    Let initial rate of interest be r% per annum.
    Let the principal be Rs. P
    According to question;
    P × (r + 7.5)/100 × 2.5 – P × r/100 × 2.5 = 375
    Or, P(r + 7.5) – Pr = 375 × 100/2.5 = 15000
    Or, 7.5P = 15000
    So, P = 15000/7.5 = Rs. 2000

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