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A certain amount earns simple interest of Rs. 1250 after 5 years. Had the interest per annum been 2% less, how much more interest would it have earned?
- a)Rs. 35
- b)Rs. 350
- c)Rs. 245
- d)Cannot be determined
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
A certain amount earns simple interest of Rs. 1250 after 5 years. Had ...
Given,
Simple interest = Rs. 1250 and N = 5 years
Let P = principal, R = rate of interest and N = time period
Given,
Simple interest = (P × R × N)/100
∴ As we know to find simple interest, we need time period, principal and rate of interest, here some data is missing so cannot be determined.
Simple interest = Rs. 1250 and N = 5 years
Let P = principal, R = rate of interest and N = time period
Given,
Simple interest = (P × R × N)/100
∴ As we know to find simple interest, we need time period, principal and rate of interest, here some data is missing so cannot be determined.
Most Upvoted Answer
A certain amount earns simple interest of Rs. 1250 after 5 years. Had ...
Given:
- The amount earns simple interest of Rs. 1250 after 5 years.
To find:
- How much more interest would it have earned if the interest per annum was 2% less.
Solution:
Step 1: Calculate the rate of interest
Let the principal amount be P and the rate of interest be R%.
Simple interest formula: SI = (P * R * T) / 100
Given that the simple interest is Rs. 1250 and the time period is 5 years, we can rewrite the formula as:
1250 = (P * R * 5) / 100
Simplifying the equation, we get:
25PR = 1250
Dividing both sides by 25:
PR = 50
Therefore, the rate of interest is 50/R%.
Step 2: Calculate the new interest
If the interest per annum is 2% less than the original rate, the new rate of interest will be (50 - 2) = 48/R%.
Using the new rate of interest, we can calculate the new interest earned.
New simple interest formula: new_SI = (P * (48/R) * 5) / 100
Step 3: Find the difference in interest
The difference in interest is given by:
Difference = new_SI - SI
Substituting the values, we get:
Difference = ((P * (48/R) * 5) / 100) - ((P * R * 5) / 100)
Difference = (P * 240/R - P * 5R) / 100
Difference = P * (240/R - 5R) / 100
Since we do not know the value of P, we cannot calculate the difference in interest. Hence, the answer is "Cannot be determined" (option D).
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A certain amount earns simple interest of Rs. 1250 after 5 years. Had the interest per annum been 2% less, how much more interest would it have earned?a)Rs. 35b)Rs. 350c)Rs. 245d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer?
Question Description
A certain amount earns simple interest of Rs. 1250 after 5 years. Had the interest per annum been 2% less, how much more interest would it have earned?a)Rs. 35b)Rs. 350c)Rs. 245d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about A certain amount earns simple interest of Rs. 1250 after 5 years. Had the interest per annum been 2% less, how much more interest would it have earned?a)Rs. 35b)Rs. 350c)Rs. 245d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A certain amount earns simple interest of Rs. 1250 after 5 years. Had the interest per annum been 2% less, how much more interest would it have earned?a)Rs. 35b)Rs. 350c)Rs. 245d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer?.
A certain amount earns simple interest of Rs. 1250 after 5 years. Had the interest per annum been 2% less, how much more interest would it have earned?a)Rs. 35b)Rs. 350c)Rs. 245d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about A certain amount earns simple interest of Rs. 1250 after 5 years. Had the interest per annum been 2% less, how much more interest would it have earned?a)Rs. 35b)Rs. 350c)Rs. 245d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A certain amount earns simple interest of Rs. 1250 after 5 years. Had the interest per annum been 2% less, how much more interest would it have earned?a)Rs. 35b)Rs. 350c)Rs. 245d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer?.
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