QA – Placement Quizzes | Simple Interest | Question 1

A sum amounts to Rs 2506 at simple interest rate of 13.5% per annum after 4 years. Find the sum.
(A) 1624.25
(B) 1621.27
(C) 1624.27
(D) 1627.27


Answer: (D)

Explanation: Let the required sum be x. Then,
Simple interest = (x × 4 × 13.5/100) = Rs 27x/50.
Amount = (x + 27x/50) = Rs 77x/50.
Therefore, 77x/50 = 2506
⇒ 77x = 2506 × 50
⇒ x = 125300/77
⇒ x = 1627.27.

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