Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The difference between simple interest on a certain sum at the annual rate of 8 percent for 5 years and 6 years is Rs. 26. What is the sum?

Options:

Rs. 325

Rs. 240

Rs. 290

Rs. 360

Correct Answer:

Rs. 325

Explanation:

If Principal = 100

Interest = Principal × Time

Simple interest at 8% for 5 years = 8 × 5

                                                 = 40%

Simple interest at 8% for 6 years = 8 × 6

                                                 = 48%

ATQ

48% - 40% = 26

8% = 26

1% = \(\frac{26}{8}\)

100% = \(\frac{26}{8}\) × 100

         = Rs 325