Multiple choice

On simple interest, a certain sum becomes ₹59,200 in 6 years and ₹72,000 in 10 years. If the rate of interest had been 2% more, then in how many years would the sum have become ₹76,000 ?

  1. 10

  2. 9

  3. 8

  4. 7
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The difference in amount over 4 years (from year 6 to year 10) is ₹12,800, which equals P×R×4/100. This gives P×R/100 = ₹3,200. Using the 6-year value: 59,200 = P + 6×3,200, so P = ₹40,000 and R = 8%. At 2% more (10% rate), the time t for ₹76,000 is: 76,000 = 40,000 + 40,000×10×t/100, giving t = 9 years.

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