Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

A sum of Rs.10500 amounts to Rs.13825 in 3\(\frac{4}{5}\) years at a certain rate of simple interest. What will be the simple interest on the same sum for 5 years at double the earlier rate?

Options:

8750

8470

8560

8670

Correct Answer:

8750

Explanation:

Simple Interest = 13825 - 10500 = 3325

rate = \(\frac{3325\;×\;5}{10500\;×\;19}\) x 100 = \(\frac{25}{3}\)%

double rate = \(\frac{50}{3}\) %

S.I. = \(\frac{10500\;×\;50\;×\;5}{3\;×\;100}\)

       = 8750