1.

The difference between the simple interest of 3 years at 8% and that of 2 years at 9% rate of interest is Rs. 96. What is the principal?1. 12002. 16003. 18004. 2400

Answer» Correct Answer - Option 2 : 1600

Given:

The difference between the simple interest of 3 years at 8% and that of 2 years at 9% rate of interest is Rs. 96.

Concept Used:

SI = (P × R × T)/100

Calculation:

Let, the principal be P

Interest in first case is (3P × 8)/100 = 24P/100

Interest in 2nd case is (2P × 9)/100 = 18P/100

Accordingly,

24P/100 - 18P/100 = 96

⇒ 6P/100 = 96

⇒ P = 1600

∴ The required principal is Rs. 1600.



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