Practicing Success
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: |
₹35,000 ₹45,000 ₹48,000 ₹42,000 |
₹45,000 |
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 |