wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

A certain sum of money Q was deposited for 5 years and 4 months at 4.5% simple interest and amounted to Rs 248. Then the value of Q is

A
Rs 200
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
B
Rs 210
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Rs 220
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Rs 240
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is A Rs 200
When the principal is P, the rate of interest is R per annum and the time period is T years then the simple interest is given by,
SI=P×T×R100

Given:
P=Q
R=4.5%
T=5 years 4 months

=5412

=513

=163

So,
SI=Q×16×4.5100×3
=24Q100

Principal + Interest = Amount
Q+24Q100=248
100Q+24Q=24800
124Q=24800
Q=Rs 200

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Deducing a Formula for Compound Interest concept video
MATHEMATICS
Watch in App
Join BYJU'S Learning Program
CrossIcon