1.

The rate of interest on a certain sum of money at 10% for 5 years and 6 years is differing by Rs. 75. The sum is1. Rs. 4502. Rs. 7503. Rs. 6504. Rs. 550

Answer» Correct Answer - Option 2 : Rs. 750

Given:

The rate of interest on certain sum of money at 10% for 5 years and 6 years is differing by Rs. 75

Formula used:

Simple interest = (P × R × T)/100

Amount = Principal + Interest

Calculation:

Interest for one year is Rs. 75 and we know that the simple interest is calculated on initial sum for each year

75 = (P × 10 × 1)/100

⇒ P = Rs. 750

∴ The sum is Rs. 750.



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