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The difference between the simple interest on a certain sum of money at 6% per annum for 10 years and at 5% per annum for 2 years is Rs. 100. Find the sum
- a)Rs.100
- b)Rs.200
- c)Rs.400
- d)Rs.500
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
The difference between the simple interest on a certain sum of money a...
( P x 6 x 10 /100 ) - ( P x 5 x 2/100 ) = 100
⇒ 60P - 10P = 10000
⇒ 50P = 10000
⇒ P = 200
⇒ Principle = Rs 200
⇒ 60P - 10P = 10000
⇒ 50P = 10000
⇒ P = 200
⇒ Principle = Rs 200
Most Upvoted Answer
The difference between the simple interest on a certain sum of money a...
To find the difference in simple interest, we need to calculate the simple interest at 6% per annum for 10 years and at 5% per annum for 2 years separately and then find the difference between the two amounts.
Let's assume the principal amount is P.
Simple Interest at 6% per annum for 10 years:
Simple Interest (SI) = (P * R * T) / 100
where P is the principal amount, R is the rate of interest, and T is the time period.
SI1 = (P * 6 * 10) / 100
SI1 = 0.6P
Simple Interest at 5% per annum for 2 years:
SI2 = (P * 5 * 2) / 100
SI2 = 0.1P
Difference in Simple Interest:
SI1 - SI2 = 0.6P - 0.1P
SI1 - SI2 = 0.5P
Given that the difference in simple interest is Rs. 100, we have:
0.5P = Rs. 100
To find the value of P, we divide both sides of the equation by 0.5:
P = Rs. 100 / 0.5
P = Rs. 200
Therefore, the principal amount is Rs. 200.
Hence, the correct answer is option 'B' - Rs. 200.
Let's assume the principal amount is P.
Simple Interest at 6% per annum for 10 years:
Simple Interest (SI) = (P * R * T) / 100
where P is the principal amount, R is the rate of interest, and T is the time period.
SI1 = (P * 6 * 10) / 100
SI1 = 0.6P
Simple Interest at 5% per annum for 2 years:
SI2 = (P * 5 * 2) / 100
SI2 = 0.1P
Difference in Simple Interest:
SI1 - SI2 = 0.6P - 0.1P
SI1 - SI2 = 0.5P
Given that the difference in simple interest is Rs. 100, we have:
0.5P = Rs. 100
To find the value of P, we divide both sides of the equation by 0.5:
P = Rs. 100 / 0.5
P = Rs. 200
Therefore, the principal amount is Rs. 200.
Hence, the correct answer is option 'B' - Rs. 200.
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The difference between the simple interest on a certain sum of money at 6% per annum for 10 years and at 5% per annum for 2 years is Rs. 100. Find the suma)Rs.100b)Rs.200c)Rs.400d)Rs.500Correct answer is option 'B'. Can you explain this answer?
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