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On a certain sum of money, after 2 years the simple interest and compound interest obtained are Rs 800 and Rs 960 respectively. What is the sum of money invested?
- a)Rs 1420
- b)Rs 1325
- c)Rs 1000
- d)Rs 1405
- e)Rs 1375
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
On a certain sum of money, after 2 years the simple interest and compo...
Diff = 960-800 = 160
r = 2*Diff*100/SI
So r = 2*160*100/800 = 40%
Now 160 = Pr2 /1002
r = 2*Diff*100/SI
So r = 2*160*100/800 = 40%
Now 160 = Pr2 /1002
Most Upvoted Answer
On a certain sum of money, after 2 years the simple interest and compo...
Diff = 960-800 = 160
r = 2*Diff*100/SI
So r = 2*160*100/800 = 40%
Now 160 = Pr2 /1002
r = 2*Diff*100/SI
So r = 2*160*100/800 = 40%
Now 160 = Pr2 /1002
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On a certain sum of money, after 2 years the simple interest and compo...
Solution:
Let the sum of money invested be P, and the rate of interest be r%.
Given that,
Simple interest for 2 years = Rs 800
⇒ P × r × 2/100 = 800
⇒ Pr/100 = 400 ...(1)
Compound interest for 2 years = Rs 960
⇒ P(1 + r/100)² - P = 960
⇒ P(r² + 2r/100 + 1 - 1) = 960
⇒ P(r² + 2r/100) = 960 ...(2)
From (1),
r = 400P⁻¹
Substituting r in (2),
P((400P⁻¹)² + 2(400P⁻¹)/100) = 960
P(16P⁻² + 8P⁻³) = 960
P = 1000
Therefore, the sum of money invested is Rs 1000. Hence, option (c) is the correct answer.
Let the sum of money invested be P, and the rate of interest be r%.
Given that,
Simple interest for 2 years = Rs 800
⇒ P × r × 2/100 = 800
⇒ Pr/100 = 400 ...(1)
Compound interest for 2 years = Rs 960
⇒ P(1 + r/100)² - P = 960
⇒ P(r² + 2r/100 + 1 - 1) = 960
⇒ P(r² + 2r/100) = 960 ...(2)
From (1),
r = 400P⁻¹
Substituting r in (2),
P((400P⁻¹)² + 2(400P⁻¹)/100) = 960
P(16P⁻² + 8P⁻³) = 960
P = 1000
Therefore, the sum of money invested is Rs 1000. Hence, option (c) is the correct answer.
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On a certain sum of money, after 2 years the simple interest and compound interest obtained are Rs 800 and Rs 960 respectively. What is the sum of money invested?a)Rs 1420b)Rs 1325c)Rs 1000d)Rs 1405e)Rs 1375Correct answer is option 'C'. Can you explain this answer?
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On a certain sum of money, after 2 years the simple interest and compound interest obtained are Rs 800 and Rs 960 respectively. What is the sum of money invested?a)Rs 1420b)Rs 1325c)Rs 1000d)Rs 1405e)Rs 1375Correct answer is option 'C'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about On a certain sum of money, after 2 years the simple interest and compound interest obtained are Rs 800 and Rs 960 respectively. What is the sum of money invested?a)Rs 1420b)Rs 1325c)Rs 1000d)Rs 1405e)Rs 1375Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On a certain sum of money, after 2 years the simple interest and compound interest obtained are Rs 800 and Rs 960 respectively. What is the sum of money invested?a)Rs 1420b)Rs 1325c)Rs 1000d)Rs 1405e)Rs 1375Correct answer is option 'C'. Can you explain this answer?.
On a certain sum of money, after 2 years the simple interest and compound interest obtained are Rs 800 and Rs 960 respectively. What is the sum of money invested?a)Rs 1420b)Rs 1325c)Rs 1000d)Rs 1405e)Rs 1375Correct answer is option 'C'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about On a certain sum of money, after 2 years the simple interest and compound interest obtained are Rs 800 and Rs 960 respectively. What is the sum of money invested?a)Rs 1420b)Rs 1325c)Rs 1000d)Rs 1405e)Rs 1375Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On a certain sum of money, after 2 years the simple interest and compound interest obtained are Rs 800 and Rs 960 respectively. What is the sum of money invested?a)Rs 1420b)Rs 1325c)Rs 1000d)Rs 1405e)Rs 1375Correct answer is option 'C'. Can you explain this answer?.
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