Question

A sum of Rs. 8,400 amounts to Rs. 11,046 at 8.75% p.a. simple interest in a certain time. What will be the simple interest (in Rs.) on a sum of Rs. 10,800 at the same rate for the same time?

• A. 3,402
• B. 3,204
• C. 3,024
• D. 3,420

Answer 1

Answer:

A. 3,402

P1 = Rs. 8,400 A1 = Rs. 11,046 R1 = 8.75% p.a. simple interest P2 = Rs. 10,800 R2 = 8.75% p.a. simple interest S.I = PRT/100 A - P = S.I S.I[1] = 11046 - 8400 = 2646 (8400 × 8.75 × T)/100 = 2646 = 73500T = 264600 = T = 3.6 years S.I[2] = (10800 × 8.75 × 3.6)/100 S.I2 = 3402