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A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum is
- a)Rs 4000
- b)Rs 4950
- c)Rs 5000
- d)Rs 5150
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
A sum was invested for 3 years at simple interest at a certain rate. H...
for 3 years ⇒ Rs 600 more
for 1 years ⇒ Rs 200 more
Now 4% of principal = 200
Principal = Rs 5000
for 1 years ⇒ Rs 200 more
Now 4% of principal = 200
Principal = Rs 5000
Most Upvoted Answer
A sum was invested for 3 years at simple interest at a certain rate. H...
Given information:
- Sum invested for 3 years at a certain rate
- If the sum had been invested at 4% higher rate of interest, it would have fetched Rs 600 more
To find: The sum invested
Solution:
Let the sum invested be 'P' and the rate of interest be 'r'. Then,
Simple Interest = (P * r * t)/100
Where t = 3 (time in years)
Amount obtained at rate 'r' = P + (P * r * t)/100
Amount obtained at rate 'r+4' = P + (P * (r+4) * t)/100
Given that the difference between the amounts obtained at two rates is Rs 600.
=> (P + (P * (r+4) * t)/100) - (P + (P * r * t)/100) = 600
=> P * 12 * 4 = 600 * 100
=> P = Rs 5000
Therefore, the sum invested is Rs 5000 (Option C is correct)
- Sum invested for 3 years at a certain rate
- If the sum had been invested at 4% higher rate of interest, it would have fetched Rs 600 more
To find: The sum invested
Solution:
Let the sum invested be 'P' and the rate of interest be 'r'. Then,
Simple Interest = (P * r * t)/100
Where t = 3 (time in years)
Amount obtained at rate 'r' = P + (P * r * t)/100
Amount obtained at rate 'r+4' = P + (P * (r+4) * t)/100
Given that the difference between the amounts obtained at two rates is Rs 600.
=> (P + (P * (r+4) * t)/100) - (P + (P * r * t)/100) = 600
=> P * 12 * 4 = 600 * 100
=> P = Rs 5000
Therefore, the sum invested is Rs 5000 (Option C is correct)
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Community Answer
A sum was invested for 3 years at simple interest at a certain rate. H...
Let's say the sum of money invested is P and the rate of interest is r%. So, the return after 3 years will be
P+SI= P(1+3r/100).
Now, if the rate of interest is (r+4)%, this return would have been 600 more.
Hence, P(1+3*(r+4)/100) = P(1+3r/100)+600
Expand the equation and the r will get cancelled at both sides and P will be RS. 5000 Option (C)
P+SI= P(1+3r/100).
Now, if the rate of interest is (r+4)%, this return would have been 600 more.
Hence, P(1+3*(r+4)/100) = P(1+3r/100)+600
Expand the equation and the r will get cancelled at both sides and P will be RS. 5000 Option (C)
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A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer?
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A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer?.
A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer?.
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A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer?, a detailed solution for A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum isa)Rs 4000b)Rs 4950c)Rs 5000d)Rs 5150Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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