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A sum amounts to Rs. 14,395.20 at 9.25% p.a. simple interest in 5.4 years. What will be the simple interest on the same sum at 8.6% p.a. in 4.5 years?
Answer & Solution
Correct Answer:
Option
A
$$\eqalign{
& \frac{{P \times 5.4 \times 9.25}}{{100}} = \left( {14395.20 - P} \right) \cr
& P = 9600 \cr
& \frac{{9600 \times 8.6 \times 4.5}}{{100}} = {\text{SI}} \cr
& {\text{SI}} = 3715.20 \cr} $$
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