Multiple choice

A certain sum of money amounts to Rs. 1,008 in 2 years and to Rs. 1,164 in 3½ years. Find the sum and the rate of interest.

  1. Rs. 900 and 12%

  2. Rs. 800 and 12%

  3. Rs. 700 and 13%

  4. Rs. 800 and 13%
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Difference in time = 1.5 years. Difference in amount = 1164 - 1008 = 156. Simple interest for 1.5 years = 156. SI for 1 year = 104. SI for 2 years = 208. Principal = 1008 - 208 = 800. Rate = (104 / 800) * 100 = 13%.

AI explanation

The simple interest for one and a half years is the difference between the two amounts, calculated as 1164 minus 1008, which equals Rs. 156. This means the interest for one year is 156 divided by 1.5, which is Rs. 104, making the total interest for two years Rs. 208. The original sum is 1008 minus 208, resulting in Rs. 800, and the rate of interest is calculated as 104 divided by 800 times 100, which gives 13 percent. The sum and rate are Rs. 800 and 13 percent.

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