Question : A certain sum (in INR) is invested at simple interest at y% per annum for
Option 1: INR 42,400
Option 2: INR 31,800
Option 3: INR 30,400
Option 4: INR 42,800
Correct Answer: INR 31,800
Solution :
Given:
Time,
Original rate =
New rate =
Let the principal be INR
According to the question,
Simple interest =
Hence, the correct answer is INR 31,800.