What sum of money will amount to 2760 in 3 years at 5% per annum simple interest

Option 2 : Rs.1600, Rs.1200

Free

15 Questions 15 Marks 15 Mins

Given:

Rate (R1) = 9%, Rate (R2) = 10%

Time (T1) = 5 years, Time (T2) = 6 years

Formula Used: 

Simple Interest (I) = (P × R × T)/100 

where p = principal

R = rate

T = time 

Calculations:

Let the first part be Rs. x.

Second part = Rs.(2800 – x)

According to the question,

\(\frac{x\ ×\ 9\ ×\ 5}{100}\ =\ \frac{(2800\ -\ x)\ × \ 10\ ×\ 6}{100}\)

⇒ 45x = 60 × 2800 - 60x

⇒ 105x = 60 × 2800

⇒ x = 1600

Second part = 2800 - 1600 = 1200

∴ the correct answer is 1600 and 1200.

Ace your Interest preparations for Simple Interest with us and master Quantitative Aptitude for your exams. Learn today!

India’s #1 Learning Platform

Start Complete Exam Preparation

Daily Live MasterClasses

Practice Question Bank

Mock Tests & Quizzes

Get Started for Free Download App

Trusted by 3.2 Crore+ Students

Get the answer to your homework problem.

Try Numerade free for 7 days

We don’t have your requested question, but here is a suggested video that might help.

What sum of money at compound interest will amount to 4499.04 in 3 years, if the rates if interest is 3% for the first year, 4% for the second year and 5% for the third year?