Multiple choice

The simple interest on a sum of money for $2\frac{1}{2}$ years at $8$% is Rs. $96$ less than the simple interest on the same sum for $3$ years at $12$%. Find the sum.

  1. $1000$
  2. $400$
  3. $300$
  4. $600$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let sum be P. SI1 = P * 2.5 * 8 / 100 = 0.2P. SI2 = P * 3 * 12 / 100 = 0.36P. 0.36P - 0.2P = 96. 0.16P = 96. P = 96 / 0.16 = 600.

AI explanation

Let the sum be P. The difference in simple interest is given by (P * 12 * 3 / 100) - (P * 8 * 2.5 / 100) = 96. Solving the equation, we get 36P / 100 - 20P / 100 = 96, which simplifies to 16P / 100 = 96. Therefore, P = 9600 / 16, making the sum Rs. 600.

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