Question

A sum of money lent out at 10 percent for 4 years produces twice as much as interest as ₹ 6000 in $3\frac{1}{2}$ years at 5 percent . Find the sum.

• A. 1 hour ago
• B. 2 hours ago
• C. 3 hours ago
• D. 5 hours ago

Answer 1

The correct option is B

2 hours ago

Let the required sum be P.

We know that S.I. = $\frac{PRT}{100}$

where, S.I. is the simple interest, P is the principal, R is the rate of interest per annum and T is the time(number of years).

In the first case R = 10 % and T = 4 years

In the second case R = 5 % and T = $3\frac{1}{2}$ years = $\frac{7}{2}$ years and Principal = ₹ 6000

We have ₹ $\frac{P\times 10\times 4}{100}$ = 2 $\times$ ₹ $\frac{6000\times 7\times 5}{2\times 100}$

₹ $\frac{40P}{100}$ = ₹ 60 $\times$ 35

P = ₹ $\frac{2100\times 100}{40}$

= ₹ 5250