New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    A man invested certain sum at simple interest of r% p.a.

    such that it amounts to 170% of itself in 7 years. Find the interest earned when Rs. 2800 is invested at simple interest of r% p.a. for 3 years.
    A Rs. 800 Correct Answer Incorrect Answer
    B Rs. 820 Correct Answer Incorrect Answer
    C Rs. 840 Correct Answer Incorrect Answer
    D Rs. 830 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the sum invested be Rs. ‘P’ Therefore, interest earned in 7 years = 1.7P – P = Rs. 0.7P ATQ; 0.7P = (P × r × 7) ÷ 100 Or, r = 70 ÷ 7 Or, r = 10 So, required interest earned = (2800 × 10 × 3) ÷ 100 = Rs. 840

    Practice Next

    Relevant for Exams: