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Question : A sum becomes Rs. 14,400 in 3 years and Rs. 15,500 in 4 years at simple interest. Find the sum.

Option 1: Rs. 11,100

Option 2: Rs. 10,000

Option 3: Rs. 10,080

Option 4: Rs. 20,000


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Rs. 11,100


Solution : The difference in the amounts after 3 years and 4 years gives the simple interest for 1 year = Rs. 15,500 – Rs. 14,400 = Rs. 1100
Now, the interest for 3 years = (1100 × 3) = Rs. 3300
So, the sum = 14,400 – 3300 = Rs. 11,100
Hence, the correct answer is Rs. 11,100.

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