Question : Two equal sums are lent at 10% and 8% simple interest p.a. respectively, at the same time. The first sum was received 2 years earlier than the second one and the amount received in each case was INR 36,900. Each sum was ______.
Option 1: INR 20,500
Option 2: INR 20,200
Option 3: INR 18,100
Option 4: INR 21,500
Correct Answer: INR 20,500
Solution :
Given :
$R_1$ = 10%
$R_2$ = 8%
$A$ = INR 36900
Let the year be $t$ years and the principal be $P$
According to the question,
$\Rightarrow (t + 2)\times 8 = t\times 10$
$\Rightarrow 8t + 16 = 10t$
$\Rightarrow 2t = 16$
$\Rightarrow t = \frac{16}{2} = 8$
Again
$A = P(1 + \frac{rt}{100})$
$\Rightarrow 36900 = P(1 + \frac{8\times 10}{100})$
$\Rightarrow 36900 = P + 0.8P$
$\Rightarrow 1.8P = 36900$
$\Rightarrow P = 20,500$
Hence, the correct answer is INR 20,500.
Related Questions
Know More about
Staff Selection Commission Sub Inspector ...
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Get Updates Brochure
Your Staff Selection Commission Sub Inspector Exam brochure has been successfully mailed to your registered email id “”.
