Multiple choice

The simple interest on a certain sum at 10% per annum for 3 years is Rs. 1110 more than the simple interest on the same sum at 8% per annum for the same period. Find the sum.

  1. Rs. 19,000

  2. Rs. 18,500

  3. Rs. 17,200

  4. Rs. 16,120

  5. Rs. 15,450
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the sum be P. SI1 = P * 10 * 3 / 100 = 0.3P. SI2 = P * 8 * 3 / 100 = 0.24P. Difference = 0.06P = 1110. P = 1110 / 0.06 = 18500.

AI explanation

The difference in simple interest is calculated as the principal multiplied by the difference in rates multiplied by the time, divided by 100. This gives 1110 equals the principal multiplied by the quantity 10 minus 8, multiplied by 3, divided by 100. Simplifying this, 1110 equals the principal multiplied by 6 divided by 100, so the principal equals 111000 divided by 6, resulting in a sum of Rs. 18,500.

Keep practicing — related questions