📢 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

    Determine the value of 'K' if an investment of Rs.

    30,000, made under a simple interest scheme at an annual rate of 18%, yields an interest amount of Rs. (2K + 160) over a period of 146 days.
    A 1000 Correct Answer Incorrect Answer
    B 900 Correct Answer Incorrect Answer
    C 840 Correct Answer Incorrect Answer
    D 960 Correct Answer Incorrect Answer
    E 1250 Correct Answer Incorrect Answer

    Solution

    Simple interest (when time is in days) = Principal X rate X time ÷ (365 X 100) ATQ, 2k + 160 = 30,000 X 18 X 146 ÷ (365 X 100) Or, 2k + 160 = 2160 Or, 2k = 2,000 So, 'k' = 1,000

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question