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      Question

      What sum of money must be given at simple interest for 3

      months at 5% per annum in order to earn Rs. 220 interest?
      A Rs.17600 Correct Answer Incorrect Answer
      B Rs.20800 Correct Answer Incorrect Answer
      C Rs.16500 Correct Answer Incorrect Answer
      D Rs.18000 Correct Answer Incorrect Answer

      Solution

      Let the sum of money be Rs. P. SI = Rs. 220, T = 1/4 year and R = 5% SI = (P Γ— R Γ— T)/100 β‡’Β  220 = P Γ— (5/100) Γ— (1/4) β‡’ Β P = Rs. 17600

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