Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

If the simple interest on a certain sum of money borrowed for 4 years at 9.5% per annum exceeds the simple interest on the same sum for 3 years at 12.5% per annum by ₹225, then the sum borrowed is:

Options:

₹35,000

₹45,000

₹48,000

₹42,000

Correct Answer:

₹45,000

Explanation:

Principal is same = P 

We know ,

Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)

ATQ,

\(\frac{P×9.5 × 4 }{100}\) - \(\frac{P×12.5 × 3 }{100}\) = 225

38P - 37.5P = 22500

0.5P = 22500

P = \(\frac{22500 }{0.5 }\)

= Rs. 45000