Question : A certain sum (in INR) is invested at simple interest at y% per annum for $3 \frac{1}{2}$ years. Had it been invested at (y + 4)% per annum at simple interest, it would have fetched INR 4,452 more as interest. What is the sum?
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, $t\ = 3\tfrac{1}{2}$ years Original rate = $y\%$ New rate = $y\ +\ 4\%$ Let the principal be INR $x$. According to the question, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ $\Rightarrow \frac{x\ \times (y\ +\ 4\ -\ y)\times 7}{100\ \times 2} = 4452$ $\Rightarrow \frac{x\ \times 4\times 7}{100\ \times 2} = 4452$ $\Rightarrow x\ = \frac{4452\times 2\times 100}{4\times 7}$ $\Rightarrow x\ = 31800$ Hence, the correct answer is INR 31,800.
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Question : Peter invested a certain sum of money in a scheme paying 10% simple interest per annum, while Rachel invested half of the sum that Peter invested in a scheme paying 10% interest per annum compounded annually. Also, while Peter invested for 2 years, Rachel invested for 3 years.
Question : The compound interest on a certain sum invested for 2 years at 10% per annum is INR 1,522.50, the interest being compounded yearly. The sum is:
Question : A person invested a sum of INR 10,500 at $x$% per annum at simple interest and a sum of INR 13,500 at $(x + 2)$% p.a. at simple interest. If the total interest earned on both investments for 3 years is INR 7,650, then the rate of interest on the first investment is:
Question : A sum amounts to INR 7,656 in 4 years and to INR 8,120 in 5 years at a certain simple interest rate percent per annum. The rate of interest is:
Question : Sudeep invested $\frac{1}{8}$th of a certain sum at 5% p.a. for two years and $\frac{3}{5}$th of the sum at 6% p.a. for two years and the remaining at 10% p.a. for two years. If the total interest received is INR 1,674, then the total sum invested is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile