Simple interest on an amount at 4% per annum for 13 months is more than the…
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Simple interest on an amount at 4% per annum for 13 months is more than the simple interest on the same sum for 8 months at 6% per annum by rs 40. what is the principal amount?
Answer: D. Rs 12000 — Solution: Find the principal given the difference in simple interest is Rs 40. 4% per annum for 13 months = 4 × 13/12 = 13/3 %. 6% per annum for 8 months = 6…
- A.
Rs 27000
- B.
Rs 21000
- C.
Rs 18000
- D.
Rs 12000
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Correct answer: D
Solution: Find the principal given the difference in simple interest is Rs 40.
4% per annum for 13 months = 4 × 13/12 = 13/3 %.
6% per annum for 8 months = 6 × 8/12 = 4%.
Difference in interest rates = 13/3 % − 4% = 1/3 %.
So (1/3)% of the principal = Rs 40. That is, principal × (1/3)/100 = 40.
Solve for principal: principal = 40 × 100 × 3/1 = 40 × 300 = Rs 12000.
Answer: Rs 12000.