Question : In what time will INR 10,000 at 4% per annum, produce the same interest as INR 8,000 does in 4 years at 5% Simple Interest?
Option 1: 5 years
Option 2: 3 years
Option 3: 4 years
Option 4: 6 years

Question

Question : A man invests a total sum of INR 10,000 in a company. A part of the sum was invested at 10% simple interest per annum and the remaining part, at 15% simple interest per annum. If the total interest accrued in two years equals INR 2,400, the sum invested at 15% simple

90 Views

Answer 1

Correct Answer: 4 years

Solution : We have,
Interest produced at INR 8,000 in 4 years at 5%.
Simple interest = $\frac{Principal × Rate × Time}{100}$
$S I = \frac{8000 \times 5 \times 4}{100} = 1600$
The same interest is produced at INR 10,000 at 4% per annum in $T$ years.
$1600 = \frac{10000 \times 4 \times T}{100}$
⇒ $T = \frac{1600 \times 100}{10000 \times 4} = 4$ years
Hence, the correct answer is 4 years.

Exams

Colleges

Predictors

Resources

Quick links

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

Question : In what time will INR 10,000 at 4% per annum, produce the same interest as INR 8,000 does in 4 years at 5% Simple Interest?Option 1: 5 yearsOption 2: 3 yearsOption 3: 4 yearsOption 4: 6 years

Related Questions

Know More about

Upcoming Exams

Trending Articles around SSC CGL

Download the Careers360 App on your Android phone

Sign In/Sign Up

Question : In what time will INR 10,000 at 4% per annum, produce the same interest as INR 8,000 does in 4 years at 5% Simple Interest?
Option 1: 5 years
Option 2: 3 years
Option 3: 4 years
Option 4: 6 years