For a certain period, simple interest on ₹1000 at 10% per annum is ₹100 more than that on ₹800. Find the period (in years).
Answer & explanation
Correct answer: option 3
simple interest (S) on Principal (P) ₹1000 at Rate (R)10% per annum is ₹100 more than that on ₹800
P1 = 1000
R = 10% p.a.
T = T
S1 = 1000*10*T/100
P2 = 800
R = 10% p.a.
S2 = 800*10*T/100
Given, S1 = S2 + 100
1000*10*T/100 = 800*10*T/100 + 100
10000T = 8000T+10000
2000T = 10000
T = 5 years
The correct answer is Option (3) → 5