Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

Compound interest earned after 2 years is Rs.3200 and simple interest earned after 3 years is Rs.4200 on a certain sum of money at a certain rate of interest. Find the sum.

Options:

Rs. 4900

Rs. 5600

Rs. 6300

Rs. 8000

Correct Answer:

Rs. 4900

Explanation:

S.I. of 3 years = Rs.4200

S.I. of 1 year = Rs.1400

ATQ,

⇒ R = \(\frac{400}{1400}\) = \(\frac{2}{7}\)

⇒ Principal × \(\frac{2}{7}\) = 1400

⇒ Principal = 1400 × \(\frac{7}{2}\) = Rs.4900/-