A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum ?
A) Rs. 5858
B) Rs. 8800
C) Rs. 7000
D) Rs. 6350
Answer: C) Rs. 7000
Explanation:
Let the sum be Rs. S. (S x 18 x 2)/100 - (S x 12 x 2)/100 = 840 => 36S/100 - 24S/100 = 840
A sum of Rs 4000 becomes Rs 7000 in 6 years at simple interest. If the rate of interest becomes double of itself, then what will be the amount (in Rs) after 6 years?
Sachin lent out Rs 60000 in two parts, first at 4% and the second at 10% interest. The yearly average interest comes out to be 6.4%. What are the amounts (in Rs) that were lent at 4% and 10% respectively?
Rs. x invested at 8% simple interest per annum for 5 years yields the same interest as that on Rs. y invested at 7.5% simple interest per annum for 6years. Find x : y.