Simple Interest Practice Test 3

Question : 29 of 40

Marks: +1, -0

An amount was lent for 2 years at a certain rate of interest. If the rate of interest is 3.5% more than the original rate of interest, then the interest will be Rs 441 more. What was the amount lent?

Rs 6,000
Rs 5,800
Rs 6,200
Rs 6,300
Rs 5,200

Validate

Solution:

SI_1={P×R×2}/100

SI_2={P×(R+3.5)×2}/100

According to the question,

SI_2 - S1_= 441

{2P(R+3.5)}/100-{2P(R)}/100=441

{2P}/100(3.5)=441

P=441×100/2×1/3.5=6300

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