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The simple interest on a certain sum for 3 years at 14% p.a. is 4,200 less than the simple interest on the same sum for 5 years at the same rate. Find the sum.
Answer & Solution
Correct Answer:
Option
C
$$\eqalign{
& {\text{3 years total rate}} = 14 \times 3 = 42\% \cr
& {\text{5 years total rate}} = 14 \times 5 = 70\% \cr
& {\text{Gap}} = 28\% \to 4200 \cr
& {\text{Sum}} = \frac{{4200}}{{28}} \times 100 = {\text{Rs}}{\text{. }}15,000 \cr} $$
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