Question

Simple interest on a certain sum at the rate of $10\%$ per annum for 6 years and 7 years differs by ₹ 650. Find the sum.

• A. Rs.8500
• B. Rs.6500
• C. Rs. 5500
• D. Rs.4500

Answer 1

The correct option is B

Rs.6500

Here in simple interest, the difference between 7 years' interest and 6 years' interest will be the interest generated in 1 year, hence

Simple interest for one year is ₹ 650.

$\Rightarrow \frac{PRT}{100}=650$

Substituting T = 1 year and R = 10% p.a, we get

$\Rightarrow \frac{P\times 10\times 1}{100}=650$

$\Rightarrow$ P = 6500

The sum is ₹ 6500.