Multiple choice

A sum of money lent at simple interest amounts to $Rs\, 3224$ in $2$ years and $Rs\,4160$ in $5$ years. Find the sum and the rate of interest.

  1. $Rs.\ 2500$
  2. $Rs.\ 2000$
  3. $Rs.\ 2600$
  4. $Rs.\ 1600$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Interest for 3 years (5-2) = 4160 - 3224 = 936. Interest for 1 year = 312. Interest for 2 years = 624. Principal = 3224 - 624 = 2600.

AI explanation

The interest for the extra three years (5 years minus 2 years) is the difference between the two amounts: Rs. 4160 - Rs. 3224 = Rs. 936. The interest for one year is Rs. 936 / 3 = Rs. 312, meaning the interest for the first two years is Rs. 624. Subtracting this interest from the two-year amount gives the principal: Rs. 3224 - Rs. 624 = Rs. 2600.

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