If the simple interest on a sum of money for 15 months at $${\text{7}}\frac{1}{2}$$ % per annum exceeds the simple interest on the same sum for 8 months at $${\text{12}}\frac{1}{2}$$ % per annum by Rs. 32.50, then the sum of money ( In Rs.) is ?
A. Rs. 312
B. Rs. 312.50
C. Rs. 3120
D. Rs. 3120.50
Answer: Option C
Solution(By Examveda Team)
$$\eqalign{ & {{\text{T}}_1} = 15\operatorname{months} \cr & \,\,\,\,\,\, = \frac{{15}}{{12}}years \cr & {R_1} = 7\frac{1}{2}\% = \frac{{15}}{2}\% \cr & {{\text{T}}_2} = 8\operatorname{months} \cr & \,\,\,\,\,\,\, = \frac{8}{{12}}years \cr & {{\text{R}}_2} = 12\frac{1}{2}\% = \frac{{25}}{2}\% \cr & {\text{Let the principal}} = {\text{P}} \cr & {\text{According to the question,}} \cr & \Leftrightarrow \frac{{{\text{P}} \times {\text{15}} \times {\text{15}}}}{{12 \times 2 \times 100}} - \frac{{{\text{P}} \times 25 \times 8}}{{12 \times 2 \times 100}} = 32.50 \cr & \Rightarrow \frac{{225{\text{P}}}}{{2400}} - \frac{{200{\text{P}}}}{{2400}} = 32.50 \cr & \Rightarrow \frac{{25{\text{P}}}}{{2400}} = 32.50 \cr & \Rightarrow {\text{P = Rs 3120}} \cr & {\text{Hence required principal}} \cr & {\text{ = Rs}}{\text{. 3120}} \cr} $$Related Questions on Interest
Find the simple interest on Rs. 5200 for 2 years at 6% per annum.
A. Rs. 450
B. Rs. 524
C. Rs. 600
D. Rs. 624
Rs. 1200 is lent out at 5% per annum simple interest for 3 years. Find the amount after 3 years.
A. Rs. 1380
B. Rs. 1290
C. Rs. 1470
D. Rs.1200
E. Rs. 1240
Interest obtained on a sum of Rs. 5000 for 3 years is Rs. 1500. Find the rate percent.
A. 8%
B. 9%
C. 10%
D. 11%
E. 12%
Rs. 2100 is lent at compound interest of 5% per annum for 2 years. Find the amount after two years.
A. Rs. 2300
B. Rs. 2315.25
C. Rs. 2310
D. Rs. 2320
E. None of these
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