Multiple choice

The simple interest earned on a certain principal in 5 years @12% per annum is Rs.1536. What amount of simple interest would a man get if he invests Rs. 1000 more than the previous principal for 2 years at the same rate of S.I. ?

  1. Rs 238.40

  2. Rs 854.40

  3. Rs 676.40

  4. Rs 45.24
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

SI = P × R × T / 100. First: P × 12 × 5 / 100 = 1536, so P = 1530 × 100 / 60 = 2560. New principal = 2560 + 1000 = 3560. SI = 3560 × 12 × 2 / 100 = 854.40.

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