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:
A. 16,480
B. 9,120
C. 7,250
D. 8,240
Answer: Option D
Solution (By Examveda Team)
$$\eqalign{ & 6\frac{1}{2}\% \to 1071.20 \cr & 1\% \to 164.80 \cr & 100\% \to 16480 \cr & {\text{SI}} = \frac{{16480 \times 5 \times 10}}{{100}} = 8240 \cr} $$This Question Belongs to Arithmetic Ability >> Interest
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