Question

If the simple interest on a certain sum for 18 months at 5.5% per annum exceeds the simple interest on the same sum for 14 months at 6% per annum by ₹62.50, then the sum is:

• A. ₹7,000
• B. ₹5,000
• C. ₹6,500
• D. ₹8,200

Answer 1

Answer:

B. ₹5,000

simple intrest $SI=\frac{PNR}{100}$

$SI_1=\frac{P\frac{18}{12}5.5}{100}$

$SI_1=\frac{8.25P}{100}$

$SI_2=\frac{P\frac{14}{12}6}{100}$

$SI_2=\frac{7P}{100}$

$SI_1-SI_2=\frac{8.25P}{100}-\frac{7P}{100}=62.50$

$\frac{(8.25-7)P}{100}=62.50$

$\frac{1.25P}{100}=62.50$

$1.25P=6250$

$P=\frac{6250}{1.25}=5000$