Question

    The interest accrued on a sum of ₹16,000 lent at a

    simple interest rate of 14% p.a. for the time in those many years, which gives a simple interest of three-fifths of a certain sum at 10% p.a., is: 
    A ₹13,440 Correct Answer Incorrect Answer
    B ₹12,970 Correct Answer Incorrect Answer
    C ₹15,360 Correct Answer Incorrect Answer
    D ₹14,280 Correct Answer Incorrect Answer

    Solution

    Let the certain sum be P SI = PRT/100 3P/5 = (P X 10 X T)/100 3P/5 = 10T/100 T = 6 years Now, calculate the SI for ₹16,000 at 14% p.a. for 6 years: SI = (16000 X 14 X 6)/100 = Rs 13440

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