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      Question

      A sum becomes Rs. 13,650 in 5 years at r% p.a. of simple

      interest. If the rate was (r + 3)% per annum, the same sum would grow to Rs. 14,700 in the same time. What is the invested principal?
      A Rs.7000 Correct Answer Incorrect Answer
      B Rs.5720 Correct Answer Incorrect Answer
      C Rs.6620 Correct Answer Incorrect Answer
      D Rs.4700 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Let the invested amount be Rs. ‘P’.

      Interest at r% = 13650 – P

      So, 13650 – P = P × 5 × r ÷ 100

      Or, 20 × (13650 – P) = Pr ………. (I)

      At (r + 3)% rate:

      14700 – P = P × (r + 3) × 5 ÷ 100

      Or, 20 × (14700 – P) = Pr + 3P ………. (II)

      Now,

      294000 – 20P = 273000 – 17P

      21000 = 3P

      P = 7000

      Thus, sum = Rs. 7,000

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