Question

The simple interest on a certain sum of money for 3 years at 5% per annum is ₹6000. Find the amount due and the sum of money.

• A. (i) ₹66,000 (ii) ₹6000
• B. (i) ₹40,000 (ii) ₹46,000
• C. (i) ₹50,000 (ii) ₹56,000
• D. (i) ₹60,000 (ii) ₹6000

Answer 1

The correct option is B

(i) ₹40,000 (ii) ₹46,000

I = $\frac{PTR}{100}$
Let the sum of money be P.
Given that R = 5% and T = 3 years and I = ₹6000
6000 = $\frac{P\times 3\times 5}{100}$
P = $\frac{6000\times 100}{3\times 5}$
P = ₹40,000

A = P + I
= 40,000 + 6000
= ₹46,000