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A man lends a certain sum of money at simple interest. Rate of interest for first one and a half years is 8%, for next 6 months is 10%, for next 10 months is 12% and after that 4%, if he received Rs. 22400.32 as interest at the end of 4 years and 1 months. What will be the principal?1. Rs. 70,0002. Rs. 70,0013. Rs. 35,2564. Rs. 75,000 |
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Answer» Correct Answer - Option 2 : Rs. 70,001 Formula used: SI = P × R × T/100 Where P = Principal, R = Rate and T = Time Calculation: Let the principal be Rs. X. Now, the simple interest for first one and a half year = [P × 8 × (3/2)/100] ⇒ 12P/100 The Simple interest for next 6 months = [P × 10 × (1/2)/100] ⇒ 5P/100 The Simple interest for next 10 months = [P × 12 × (10/12)/100] ⇒ 10P/100 The Simple interest for the remaining 15 months = [P × 4 × (15/12)/100] ⇒ 5P/100 According to Question, (12P/100) + (5P/100) + (10P/100) + (5P/100) = 22400.32 ⇒ 32P/100 = 22400.32 ⇒ P = 22400.32 × (100/32) ⇒ Rs. 70,001 ∴ The principal will be Rs. 70,001 |
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