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The amount of a certain sum invested at 7.4% p.a. for 2½ years at simple interest is ₹1,701 less than the simple interest on the same sum f…

3023Hard DSSSB TGT Computer Science 0 replies

The amount of a certain sum invested at 7.4% p.a. for 2½ years at simple interest is ₹1,701 less than the simple interest on the same sum for 10 years at 15% p.a. The sum (in ₹) is:

A5,400
B5,000
C5,500
D5,200

Correct answer: A

Explanation

Amount = P(1 + 0.074 × 2.5) = 1.185P and the simple interest at 15% for 10 years is 1.5P. 1.5P − 1.185P = 0.315P = 1701, so P = ₹5,400.

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