Two equal amounts of money are deposited in two banks at a simple interest…
2025
Two equal amounts of money are deposited in two banks at a simple interest rate of 15% per annum.
Bank 1: 3.5 years
Bank 2: 5 years
Difference between simple interests: Rs. 144
Find: each deposited sum.
- A.
Rs. 640
- B.
Rs. 650
- C.
Rs. 750
- D.
Rs. 950
Attempted by 49 students.
Show answer & explanation
Correct answer: A
Let the common principal be P.
Difference in time: 5 - 3.5 = 1.5 years.
Difference in simple interest: P x 15 x 1.5 / 100 = 0.225P.
Given: 0.225P = 144.
So: P = 144 / 0.225 = 640.
Correct answer: Each sum is Rs. 640.