The interest earned on ₹ 8000 when invested in some scheme for 2 years at 7%…
2025
The interest earned on ₹ 8000 when invested in some scheme for 2 years at 7% simple interest, per annum is half of the interest earned on another amount P invested for five years in the same scheme at the same rate of interest. Find the value of P.
- A.
₹ 6200
- B.
₹ 6000
- C.
₹ 6400
- D.
₹ 5000
Attempted by 12 students.
Show answer & explanation
Correct answer: C
First, calculate the simple interest on ₹8000 for 2 years at 7%: SI = (8000 × 7 × 2) / 100 = ₹1120.
According to the problem, this is half of the interest on P for 5 years at 7%. So, interest on P = 1120 × 2 = ₹2240.
Now, use the SI formula for P: (P × 7 × 5) / 100 = 2240. Solving for P gives P = (2240 × 100) / 35 = ₹6400.