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

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    Rohit invested a certain amount at a simple interest

    rate of  r% per annum, which increased to 180% of the original amount over 5 years. If Rs. 2500 is invested at the same simple interest rate (r% p.a.) for 2 years, what will be the interest earned?
    A Rs. 750 Correct Answer Incorrect Answer
    B Rs. 640 Correct Answer Incorrect Answer
    C Rs. 800 Correct Answer Incorrect Answer
    D Rs. 960 Correct Answer Incorrect Answer
    E Rs. 720 Correct Answer Incorrect Answer

    Solution

    Let the sum invested be Rs. 'P' Therefore, interest earned in 5 years = 1.8P - P = Rs. 0.8P ATQ; 0.8P = (P X r X 5) ÷ 100 Or, r = 80 ÷ 5 Or, r = 16 So, required interest earned = (2500 X 16 X 2) ÷ 100 = Rs. 800

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question