Multiple choice

Dheeraj invested Rs 35000 in a bank for 1 year at 12% per annum. How much more should Dheeraj need to invest at 10% per annum for that year, so that he can get the same interest amount which he would get when he invests Rs 40000 at 14% per annum for one year?

  1. 10000 Rs

  2. 12500 Rs

  3. 15000 Rs

  4. 14000 Rs

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Interest on Rs 40000 at 14% = Rs 5600. Interest on Rs 35000 at 12% = Rs 4200. Additional interest needed = Rs 5600 - Rs 4200 = Rs 1400. Let additional amount be P at 10%. Then P × 10% = 1400, so P = 14000.

Keep practicing — related questions