Multiple choice

A sum of Rs. 56000 amounts to Rs. 75600 at the rate of 8.75% in some time at simple interest. Find the simple interest on the sum of Rs. 49000 at the same rate for the same time.

  1. 17150

  2. 16790

  3. 16500

  4. 18900

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

SI = 75600-56000 = 19600. For Rs 49000 at same rate and time: SI = (49000/56000)×19600 = (7/8)×19600 = 17150. Time and rate cancel out in proportion.