A sum of Rs. 1200 becomes Rs. 1560 at a rate of simple interest in 3 years. In…
2021
A sum of Rs. 1200 becomes Rs. 1560 at a rate of simple interest in 3 years. In how many years will the sum of Rs. 800 amount to Rs. 1120 at the same rate of simple interest?
- A.
3 years
- B.
4 years
- C.
5 years
- D.
6 years
Attempted by 23 students.
Show answer & explanation
Correct answer: B
First, find simple interest for Rs. 1200 over 3 years: 1560 - 1200 = Rs. 360.
Calculate rate: 360 = (1200 * R * 3) / 100, giving R = 10%.
Next, find interest for Rs. 800: 1120 - 800 = Rs. 320.
Solve for time: T = (320 * 100) / (800 * 10) = 4 years.
Final Answer: Option 2 (4 years)