Simple Interest Practice Test 2

Question : 29 of 40

Marks: +1, -0

ORIGINAL QUESTIONS FROM PREVIOUS YEAR PAPERS

A sum of money was lent at simple interest at a certain rate for 3 years. Had it been lent at 2.5% per annum higher rate, it would have fetched Rs 540 more. The money lent was:

Rs 6,400
Rs 6,472
Rs 6,840
Rs 7,200

Validate

Solution:

Time = 3 years; Rate = 2.5%, SI = Rs 540

P={SI×100}/{R×T}

={450×100}/{3×2.5}=7200

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