Compound Interest Practice Test 4

Question : 8 of 40

Marks: +1, -0

A principal amounts to Rs 944 in 3 years and to Rs 1,040 in 5 years, each sum being invested at the same simple interest. The principal was:

Rs 800
Rs 992
Rs 750
Rs 900

Validate

Solution:

Principal amount for 3 years = Rs 944
Principal amount for 5 years= Rs 1,040
Principal amount for 2 years= 1,040 - 944 =Rs 96
Principal amount for 1 year

= 96/2 = 48

Simple interest for three years= 48 × 3= Rs 144
Principal= Amount- Simple Interest= 944-144= Rs 800

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