Question

A sum was put at SI at a certain rate for 8 years Had it been put at 4% higher rate, it would have fetched Rs. 80 more Find the sum__

• A. Rs. 300
• B. Rs. 200
• C. Rs. 250
• D. Rs. 400

Answer 1

Answer: (C)

Rs. 250

Simple Interest $SI=\frac{PNR}{100}$

$=>SI=\frac{P\times 8\times R}{100}$

$=>SI=0.08PR$

As per the given statement,

$SI+80=\frac{P\times 8\times (R+4)}{100}$

$=>SI+80=0.08P(R+4)$

$=>SI+80=0.08PR+0.32P$

$=>SI+80=SI+0.32P$

$=>0.32P=80$

$=>P=Rs250$