Simple Interest Practice Test 2

Question : 31 of 40

Marks: +1, -0

Rakhi invested a certain sum of money on simple interest at some rate for 3 years. Had she put the same sum at 3% higher rate it would have fetched her Rs 99 more. Find the sum invested by her.

Rs 1,050
Rs 1,150
Rs 1,020
Rs 1,100
Rs 990

Validate

Solution:

SI_1={P×R×T}/100

={P×R×3}/100

SI_2={P×R×T}/100

={P×(R+3)×3}/100

According to the question,

SI_2 - SI_1 = 99

{P×(R+3)×3}/100- {P×R×3}/100=99

{3P}/100 (R+3-R)=99

{9P}/100=99

P=99×100/9=\Rs. 1,100

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