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QA – Placement Quizzes | Simple Interest | Question 1

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A sum amounts to Rs 1065 at simple interest rate of 7.5% per annum after 3 years. Find the sum.

(A)

878.40

(B)

869.38

(C)

869.28

(D)

783.20



Answer: (B)

Explanation:

Let the required sum be x. Then, 

Simple interest = (x × 3 × 7.5 /100) = Rs 22.5x/100. 

Amount = (x + 22.5x/100) = Rs 122.5x/100. 

Therefore, 122.5x/100 = 1065 ⇒ 122.5x = 1065 × 100 ⇒ x = 106500/122.5 ⇒ x = 869.38


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Last Updated : 28 Jun, 2021
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