ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    A sum of Rs. 6,000, earning simple interest at an annual

    rate of 'r%' for 5 years, grows to Rs. 9,000. Calculate the total amount obtained if the same sum is invested at an annual interest rate of (r + 3)% over a period of 5 years.
    A Rs. 9500 Correct Answer Incorrect Answer
    B Rs. 9900 Correct Answer Incorrect Answer
    C Rs. 9000 Correct Answer Incorrect Answer
    D Rs. 8750 Correct Answer Incorrect Answer

    Solution

    Simple interest received = A тАУ P = (9000 тАУ 6000) = Rs. 3000 ATQ; 6000 ├Ч (r/100) ├Ч 5 = 3000 Or, 300r = 3000 Or, r = 10 And, r + 3 = 13 So, required amount received = 6000 + {(6000 ├Ч 13 ├Ч 5)/100} = {6000 + 3900} = Rs. 9,900

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question