| The simple interest obtained when a sum of money is invested for 4 yr at 18% per annum is Rs. 427 more than the simple interest obtained if the same sum of money is invested for 2 yr at 22% per annum. What is the amount obtained when the same sum of money is invested for 4 yr at 18% per annum? [SBI Associate (Clerk) 2015] |
A) Rs. 2130
B) Rs. 2623
C) Rs. 1096
D) Rs. 1854
E) Rs. 2475
Correct Answer: B
Solution :
| Let the principal amount be Rs. P. |
| Then, \[\frac{P\times 4\times 18}{100}\,\,-\,\,\frac{P\times 2\times 22}{100}=427\] |
| \[\Rightarrow \] \[\frac{18P}{25}-\frac{22P}{50}=427\] |
| \[\Rightarrow \] \[\frac{36P-22P}{50}=427\] |
| \[\Rightarrow \] \[14P=427\times 50\] |
| \[\Rightarrow \] \[P=\frac{427\times 50}{14}=30.5\times 50\] |
| \[\therefore \] \[P=Rs.\,1525\] |
| \[\therefore \] Required sum \[=P+\frac{P\times 4\times 18}{100}\] |
| \[=1525+\frac{1525\times 4\times 18}{100}\] |
| \[=1525+61\times 18=Rs.\,2623\] |
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