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    Question

    A sum of Rs. 8000 amounts to Rs. 9680 at 10% p.a.,

    interest being compounded yearly in a certain time. The simple interest earned (in Rs.) on the same sum for the same time and same rate is:
    A 1600 Correct Answer Incorrect Answer
    B 1680 Correct Answer Incorrect Answer
    C 1500 Correct Answer Incorrect Answer
    D 1720 Correct Answer Incorrect Answer

    Solution

    Let desired time be โ€˜tโ€™ years So, 8000(1 + 10/100)t = 9680 Or, (11/10)t = 9680 / 8000 = 121/100 = (11/10)2 Or, t = 2 Desired simple interest = 8000 ร— 0.10 ร— 2 = Rs. 1600

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