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A sum was invested on simple interest at a certain rate for 3 years. If the interest rate is increased by 5%, then the interest increases by Rs. 225. What is the sum (in Rs.) invested?
- a)1000
- b)1500
- c)1750
- d)2000
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
A sum was invested on simple interest at a certain rate for 3 years. I...
Interest = PRT/100
Let the sum invested be P at rate of r%
Initial Interest = (P × r × 3)/100
Interest when r% is increased by 5% = (P × (r + 5) × 3)/100
(P × (r + 5) × 3)/100 - (P × r × 3)/100 = 225
(P × 5 × 3)/100 = 225
P = Rs. 1500
Let the sum invested be P at rate of r%
Initial Interest = (P × r × 3)/100
Interest when r% is increased by 5% = (P × (r + 5) × 3)/100
(P × (r + 5) × 3)/100 - (P × r × 3)/100 = 225
(P × 5 × 3)/100 = 225
P = Rs. 1500
Most Upvoted Answer
A sum was invested on simple interest at a certain rate for 3 years. I...
Calculation:
- Let the initial sum be Rs. x and the initial interest rate be r%
- The interest earned at the initial rate for 3 years = 3xr/100
Given:
- When the interest rate is increased by 5%, the new rate becomes (r + 5)%
- The interest earned at the new rate for 3 years = 3x(r + 5)/100
- The increase in interest = 3x(r + 5)/100 - 3xr/100 = Rs. 225
Solving:
- 3x(r + 5)/100 - 3xr/100 = 225
- 3xr + 15x - 3xr = 22500
- 15x = 22500
- x = 22500/15 = 1500
Therefore, the sum invested is Rs. 1500. So, the correct answer is option B.
- Let the initial sum be Rs. x and the initial interest rate be r%
- The interest earned at the initial rate for 3 years = 3xr/100
Given:
- When the interest rate is increased by 5%, the new rate becomes (r + 5)%
- The interest earned at the new rate for 3 years = 3x(r + 5)/100
- The increase in interest = 3x(r + 5)/100 - 3xr/100 = Rs. 225
Solving:
- 3x(r + 5)/100 - 3xr/100 = 225
- 3xr + 15x - 3xr = 22500
- 15x = 22500
- x = 22500/15 = 1500
Therefore, the sum invested is Rs. 1500. So, the correct answer is option B.
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A sum was invested on simple interest at a certain rate for 3 years. If the interest rate is increased by 5%, then the interest increases by Rs. 225. What is the sum (in Rs.) invested?a)1000b)1500c)1750d)2000Correct answer is option 'B'. Can you explain this answer?
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