Multiple choice

Vikram invested an amount for 3 years at a simple interest rate of 9 % . He got an amount of Rs. 19050 at the end of 3 years. What sum did he invest?

  1. Rs. 14500

  2. Rs. 15000

  3. Rs. 15500

  4. Rs. 16000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple interest formula: A = P(1 + rt/100). 19050 = P(1 + (9 * 3)/100) = P(1 + 0.27) = 1.27P. P = 19050 / 1.27 = 15000.

AI explanation

Let the sum Vikram invested be P. The total simple interest he earned is given by the formula (P * R * T) / 100, which is (P * 9 * 3) / 100 = 0.27P. The amount at the end of 3 years is the sum of the principal and the interest, so P + 0.27P = 1.27P, which equals 19050. Solving for P, we find P = 19050 / 1.27 = 15000. The sum he invested was Rs. 15000.

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