Question

Two equal sums were borrowed at 8% simple interest per annum for 2 years and 3 years respectively. The difference on the interest was Rs. 56. The sum borrowed were

• A. Rs. 690
• B. Rs. 700
• C. Rs. 740
• D. Rs. 780

Answer 1

The correct option is B Rs. 700

$\frac{PR{T}_1}{100}-\frac{PR{T}_2}{100}$

$P\left[\frac{8\times 3-8\times 2}{100}\right]=56.P=700$