A certain sum (in Rs.) is invested at simple interest at x% p.a. for 5 years. Had it been invested at (x + 5)% p.a., the simple interest would have been Rs. 9200 more than the earlier one. What is the sum?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Rs. 36800
Let I be the simple interest on Rs. P invested at simple interest at x% p.a. for 5 years.
Hence, I = p × x × 5/100 ………………..(1)
Also, (I + 9200) = p × (x + 5) × 5/100 ……………..(2)
Subtract (1) from (2), we get
⇒ 9200 = [5p/100](5)
⇒ p = 9200 × 4 = 36800