Multiple choice

Passage

In the questions given below some data is not given and answer by filling in the appropriate data.

A sum of money amounts to Rs.12322.8 after ------------ years and Rs.15724.8 after ------------ years at the same rate of simple interest while the rate of interest per annum is 9%? A. 9 B. 8 C. 5 D. 7 E. 12

  1. A, B

  2. D, C

  3. A, E

  4. E, D

  5. D, E
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Using simple interest formula A = P(1 + rt/100), let P be principal and t1, t2 be the two time periods in years. From first amount: P(1 + 9*t1/100) = 12322.8. From second amount: P(1 + 9*t2/100) = 15724.8. Testing option values D=7, E=12: P = 12322.8/1.63 = 7560. Check with t2=12: 7560(1 + 1.08) = 7560 × 2.08 = 15724.8. Both conditions satisfied.

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