Multiple choice

At 9.5% simple interest per annum a sum of money became Rs 942 in 6 years. The sum initially invested was:

  1. 675

  2. 626

  3. 600

  4. 650
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Using SI = P×R×T/100: 942 = P + (P×9.5×6)/100 = P + 0.57P = 1.57P. So P = 942/1.57 = 600. Alternatively: Interest = 942 - P, and Interest = P×0.57, giving 942 - P = 0.57P.

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