Multiple choice

A sum of Rs.x is invested at the rate of a% for 2 years and the interest is Rs.360 but if Rs.5,000 is invested at the same rate of interest for 3 years, then the sum becomes Rs.5,600. Find the value of x ? (Interest will be simple interest.)

  1. 4200

  2. 4400

  3. 4800

  4. 4500

  5. None
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

From 5000 at a% for 3 years, interest = 600. So 3 * a% * 5000 = 600 => 150a = 600 => a = 4%. Now, x * 4% * 2 = 360 => 0.08x = 360 => x = 4500.

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