Multiple choice

(\text{₹}4,300\text{ becomes }\text{₹}4,644\text{ in 2 years at simple interest. Find the principle amount that will become }\text{₹}10,104\text{ in 5 years at the same rate of interest?})

  1. ₹7,200

  2. ₹9,260

  3. ₹8,420

  4. ₹ 5,710
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

First find the rate: (4644-4300)/(2×4300) × 100 = 4%. Then use P(1 + 5×4/100) = 10104, giving P = 8420. Same rate applied to find unknown principal.

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