New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The simple interest received on a certain sum is Rs.

    1200 less than the sum invested. If the sum was invested at 20% p.a. for 4 years, then find the simple interest received.
    A Rs. 4800 Correct Answer Incorrect Answer
    B Rs. 4850 Correct Answer Incorrect Answer
    C Rs. 4700 Correct Answer Incorrect Answer
    D Rs. 4600 Correct Answer Incorrect Answer

    Solution

    Let the sum invested be Rs. x Therefore, simple interest received = Rs. (x – 1200) According to the question, {(x × 20 × 4)/100} = x – 1200 => 0.8x = x – 1200 => 0.2x = 1200 => x = 1200/0.5 = 6000 Therefore, simple interest received = x – 1200 = 6000– 1200 = Rs. 4800

    Practice Next

    Relevant for Exams: