Multiple choice

What principal amount should Reema take at the rate of $10.5\%$ for 3 years and 4 months , to pay the interest of Rs.4200 ? How much amount would Reema have to pay ?

  1. Rs.12,000 , Rs.16,200

  2. Rs.1,000 , Rs.16,200

  3. Rs.12,000 , Rs.12,200

  4. Rs.1,000 , Rs.6,200
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Interest = (P * R * T) / 100. 4200 = (P * 10.5 * (3 + 4/12)) / 100. 4200 = (P * 10.5 * 3.333) / 100. 4200 = (P * 35) / 100. P = 420000 / 35 = 12000. Total amount = 12000 + 4200 = 16200.

AI explanation

Convert 3 years and 4 months to 10/3 years and use the simple interest formula, so 4200 = (P * 10.5 * 10/3) / 100. Solving gives P = 12000, meaning Reema takes a principal of Rs.12,000. The total amount to pay is the principal plus the interest, which is 12000 + 4200 = Rs.16,200.

Keep practicing — related questions