📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      A person lent a sum at simple interest for 6 years. If

      the rate had been 5% more, he would have earned Rs. 750 extra. What was the principal?
      A Rs.3000 Correct Answer Incorrect Answer
      B Rs.2500 Correct Answer Incorrect Answer
      C Rs.1520 Correct Answer Incorrect Answer
      D Rs.1800 Correct Answer Incorrect Answer

      Solution

      Let initial rate of interest be r% per annum.
      Let the principal be Rs. P
      According to question;
      P × (r + 5)/100 × 6 – P × r/100 × 6 = 750
      Or, P(r + 5) – Pr = 750 × 100/6 = 12500
      Or, 5P = 12500
      So, P = 12500/5 = Rs. 2500

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question