Multiple choice

A sum of Rs. (x) amounts to Rs. 9,246 in 4 years and to Rs. 11,298.75 in 7.5 years, at (y)% p.a. simple interest. The values of (x) and (y) are, respectively:

  1. 6500 and 8

  2. 6800 and 8.5

  3. 6900 and 8.5

  4. 7200 and 7.5
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Using the simple interest formula A = P(1 + rt/100), we have: 9246 = x(1 + 4y/100) and 11298.75 = x(1 + 7.5y/100). Dividing the second equation by the first and solving gives y = 8.5%. Substituting back: 9246 = x(1 + 34/100) = x(1.34), so x = 9246/1.34 = 6900.

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