📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store
  • ✖

      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

      Practice Next

      Relevant for Exams:

      ask-question