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    Question

    'X' invested Rs. (p + 5000) at simple interest of 16%

    p.a. for 7.5 years. If the interest earned from the investment is Rs. 18,000, then determine the value of 'X'. 
    A 2700 Correct Answer Incorrect Answer
    B 1057 Correct Answer Incorrect Answer
    C 1000 Correct Answer Incorrect Answer
    D 1295 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ; 18000 = {(p + 5000) × 16 × 7.5} ÷ 100 Or, p + 5000 = 15000 So, p = 10000

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