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If the annual rate of simple interest increase from 11% to $$17\frac{1}{2}\% ,$$ then a person's yearly income increase by Rs. 1,071.20. The simple interest (in Rs.) on the same sum at 10% for 5 year is:
Answer & Solution
Correct Answer:
Option
D
$$\eqalign{
& 6\frac{1}{2}\% \to 1071.20 \cr
& 1\% \to 164.80 \cr
& 100\% \to 16480 \cr
& {\text{SI}} = \frac{{16480 \times 5 \times 10}}{{100}} = 8240 \cr} $$
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