Multiple choice

A sum of money at simple interest amounts to Rs. 2,800 in 2 years and Rs. 3.250 in 5 years. Find the original sum and the rate of interest.

  1. Rs. 2500 and 6%

  2. Rs. 2000 and 5%

  3. Rs. 1000 and 10%

  4. Rs. 3000 and 15%
Reveal answer Fill a bubble to check yourself
A Correct answer
AI explanation

The difference in amounts for 5 years and 2 years represents the simple interest for 3 years, so 3250 - 2800 = Rs 450. The interest for one year is 450 / 3 = Rs 150, making the interest for 2 years equal to Rs 300. The original sum is the amount after 2 years minus the 2-year interest: 2800 - 300 = Rs 2500. Using the rate formula, R = (100 * 450) / (2500 * 3) = 6%.

Keep practicing — related questions