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    Question

    What principal amount, when invested at an annual simple

    interest rate of 3.6% for 15 years, will generate an interest of Rs. 4,050?
    A Rs. 6,000 Correct Answer Incorrect Answer
    B Rs. 6,900 Correct Answer Incorrect Answer
    C Rs. 7,500 Correct Answer Incorrect Answer
    D Rs. 7,250 Correct Answer Incorrect Answer

    Solution

    Let the sum invested be Rs. 'P'. According to the question, 4050 = (P x 3.6 x 15) ÷ 100 Or, P = (4050/0.54) = 7500 Or, sum invested = Rs. 7,500

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