Question

A sum of money was lent at simple interest
$\text{at 11\% p.a. for}3\frac{1}{2}$$\text{years and}4\frac{1}{2}\text{years}$ respectively. If the difference in interests for two period was Rs. 412.50, the sum is:

• A. Rs. 3250
• B. Rs. 3500
• C. Rs. 3750
• D. Rs. 4250

Answer 1

The correct option is C Rs. 3750

Let the sum be Rs.x. Then,

$(x\times 11\times \frac{9}{2}\times \frac{1}{100}-x\times 11\times \frac{7}{2}\times \frac{1}{100})$

= 412.50

$or\frac{22x}{200}=412.50$

$\Rightarrow 11x=41250$

$\Rightarrow x=3750$