Multiple choice

A certain sum of money Q was deposited for 5 years and 4 months at 4.5% simple interest and amounted to Rs 248. Then the value of Q is

  1. Rs 200

  2. Rs 210

  3. Rs 220

  4. Rs 240
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A Correct answer
Explanation

Time = 5 years 4 months = 5 + 4/12 = 16/3 years. Amount = P + SI = P(1 + RT/100). 248 = Q(1 + 4.5 * (16/3) / 100) = Q(1 + 1.5 * 16 / 100) = Q(1 + 24/100) = Q(1.24). Q = 248 / 1.24 = 200.

AI explanation

Using the simple interest formula, I = PTR/100, the interest is 248 - Q = Q * 5.333 * 4.5 / 100, which simplifies to 0.24Q. Adding the principal gives 1.24Q = 248. Dividing 248 by 1.24 yields the original sum, so the value of Q is Rs 200.

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