A principal lends on simple interest for two years. If rate of interes

1.	A principal lends on simple interest for two years. If rate of interest more than 1% the simple interest increased by Rs. 240. Find out the principal:1. Rs. 5,0002. Rs. 6,0003. Rs. 8,0004. Rs. 12,000
Answer» Correct Answer - Option 4 : Rs. 12,000 Given: Simple interest more than 1% the simple interest increased = Rs. 240 Time = 2 years Concept used: S.I. = (P × R × T)/100 Calculation: S.I. = (P × R × 2)/100 ----(1) S.I. = [P × (R + 1) × 2]/100 ----(2) Equation (1) subtract from equation (2) [P × (R + 1) × 2]/100 – (P × R × 2)/100 = 240 ⇒ P[(R + 1) × 2 – (R × 2)]/100 = 240 ⇒ P(2R + 2 – 2R) = 240 × 100 ⇒ P × 2 = 24000 ⇒ P = 24000/2 ⇒ P = 12000 ∴ The principal lends on simple interest for two years is Rs. 12000.

A principal lends on simple interest for two years. If rate of interest more than 1% the simple interest increased by Rs. 240. Find out the principal:1. Rs. 5,0002. Rs. 6,0003. Rs. 8,0004. Rs. 12,000

Answer» Correct Answer - Option 4 : Rs. 12,000

Given:
Simple interest more than 1% the simple interest increased = Rs. 240

Time = 2 years

Concept used:

S.I. = (P × R × T)/100

Calculation:

S.I. = (P × R × 2)/100 ----(1)

S.I. = [P × (R + 1) × 2]/100 ----(2)

Equation (1) subtract from equation (2)

[P × (R + 1) × 2]/100 – (P × R × 2)/100 = 240

⇒ P[(R + 1) × 2 – (R × 2)]/100 = 240

⇒ P(2R + 2 – 2R) = 240 × 100

⇒ P × 2 = 24000

⇒ P = 24000/2

⇒ P = 12000

∴ The principal lends on simple interest for two years is Rs. 12000.

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