Multiple choice

Mahavir lent a certain sum at $\displaystyle5\frac{3}{4}\%$ p. a. After 5 years the interest was Rs. 570 less than the sum, the sum was _____________.

  1. Rs. 900

  2. Rs. 1700

  3. Rs. 2500

  4. Rs. 800
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Rate = 23/4 percent = 0.23/4 = 0.0575. Simple interest = P * R * T = P * 0.0575 * 5 = 0.2875P. Given P - Interest = 570, so P - 0.2875P = 570, 0.7125P = 570, P = 800.

AI explanation

Let the sum be P, so using the Simple Interest formula, the interest for 5 years is (P multiplied by 5.75 multiplied by 5) divided by 100, which simplifies to 0.2875P. Since the interest is Rs. 570 less than the sum, the equation is 0.2875P equals P minus 570, or 0.7125P equals 570. Solving for P gives 570 divided by 0.7125, which results in a principal sum of Rs. 800.

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