Simple Interest Practice Test 1

Question : 38 of 40

Marks: +1, -0

If simple interest on a certain sum of money for 4 years at 5% p.a. is same as the simple interest on Rs. 840 for 10 years at the rate of 4% p.a., the sum of money is:

Rs. 1780
Rs. 1660
Rs. 1680
Rs. 1620

Validate

Solution:

Here,

{P×5×4}/100={840×4×10}/100

⇒5P=8400

∴P=8400/5=1680

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