Multiple choice

On simple interest, a sum of money becomes Rs. 11,500 in 3 years and Rs. 13,500 in 7 years. How much money is deposited?

  1. Rs. 10,500

  2. Rs. 10, 250

  3. Rs. 10,000

  4. Rs. 9,500

  5. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple interest for 4 years (7-3) is 13500 - 11500 = 2000. Interest per year = 500. Interest for 3 years = 1500. Principal = 11500 - 1500 = 10000.

AI explanation

The simple interest for 4 years is the difference between the amounts at 7 years and 3 years, which is 13500 minus 11500, equaling 2000. The interest per year is 2000 divided by 4, or 500. The interest for the first 3 years is 1500. Subtracting this from the 3-year amount gives the principal: 11500 minus 1500 equals 10000.

Keep practicing — related questions