A certain sum amounts to ₹20720 in fou

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

A certain sum amounts to ₹20720 in four years and ₹24080 in six years at a certain rate of simple interest. The sum (in ₹) is:

Options:

11000

12000

14000

15000

Correct Answer:

14000

Explanation:

Simple interest of 2 years = 24080 - 20720 = 3360

Simple interest of 1 year = 1680

So , Simple interest of 4 years = 4 × 1680 = 6720

Amount = Principal + Interest

Principal = 20720 - 6720

= 14000