Question

    Simple interest received at the rate of 12% p.a. for 6

    years on a principal amount of Rs. 8000 is twice of the simple interest received at 10% p.a. for 6 years on the principal amount of Rs. ‘X’. Find the value of ‘X’.
    A 4000 Correct Answer Incorrect Answer
    B 4500 Correct Answer Incorrect Answer
    C 4800 Correct Answer Incorrect Answer
    D 4900 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to the question, (8000 × 0.12 × 6) = 2 × (X × 0.10 × 6) Or, 5760 = 1.2X Or, X = 5760/1.2 = 4800

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