A sum of Rs.12519 amounts to Rs. 17290 at 11.44% p.a. simple interest in a certain time. What will be the simple interest (in Rs.) on a sum of Rs. 18297 at the same rate for the same time?
Answer & explanation
Correct answer: option 4
Since rate and time are same for both conditions, simple interest will be directly proportional to principal
S.I. = 17290 - 12519 = 4771
P → 12519 : 18297
13 : 19
S.I. → 13 ↓ x367
↓ x367 6973
4771