Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

A certain sum of money is given at a certain rate of interest for 8 years. If rate of interest would have been 10.5% more, then Rs 2100 more interest would be received. Then find the principal.

Options:

2000

2400

2500

3000

Correct Answer:

2500

Explanation:

Extra Benefit = 10.5% × 8 = 84%

84% = \(\frac{21}{25}\) = \(\frac{S.I.}{Principal}\)

21R = 2100 (given)

1R =100

Hence,

Principal = 25R = 25 × 100 = 2500