Simple Interest Practice Test 4

Question : 1 of 26

Marks: +1, -0

Amount received by a money lender on lending out a certain sum of money at 3% per annum simple interest for 4 years is same as the amount received by him on lending out the sum of Rs. 6384 at 4% p.a. for 6 years. The sum will be :

Rs. 7168
Rs. 7278
Rs. 7078
Rs. 7068

Validate

Solution:

Here,

P+{P×3×4}/100=6384+{6384×4×6}/100

⇒{28P}/25={638400+153216}/100

∴P=7068

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