Multiple choice

Let Rs. $300$ be borrowed for $8$ months. Then which one of the following will be the correct period of lending of Rs. $400$ in return, provided the rate of interest in both the cases is same and the interest received in each case the same?

  1. $4$ months
  2. $5$ months
  3. $ 5 \displaystyle \frac{1}{2}$ months
  4. $6$ months
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Simple interest formula: I = (P*R*T)/100. Since interest and rate are the same, P1*T1 = P2*T2. 300*8 = 400*T2. T2 = 2400/400 = 6 months.

AI explanation

Using the simple interest formula SI = (P * R * T) / 100, let the periods be T1 and T2. Since the interest received is the same and the rate is identical, we equate the products of the principal and time: 300 * 8 = 400 * T2. This gives 2400 = 400 * T2, meaning T2 equals 6 months.

Keep practicing — related questions