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    Question

    The simple interest on an amount of Rs. x at an annual

    rate of 4% for 3 years is Rs. 120 less than the simple interest on an amount of Rs. (x – 800) at an annual rate of 8% for 2 years. Determine the value of x.
    A 6000 Correct Answer Incorrect Answer
    B 6200 Correct Answer Incorrect Answer
    C 5400 Correct Answer Incorrect Answer
    D 5400 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to the question, x × 4% × 3 + 120 = (x – 800) × 8% × 2 0.12x + 120 = 0.16x – 128 128 + 120 = 0.16x – 0.12x 0.04x = 248 x = 6200

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