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.
Simple interest = (Principal × rate of interest × time)/100
According to the question, in case 1st SI = (p × x × 5)/100
In case 2 = SI + 9200 = {p × (x + 5) × 5}/100
According to the question
⇒ {p × (x + 5) × 5}/100 - (p × x × 5)/100 = 9200
⇒ (P × 5 × 5)/100 = 9200
P = 9200 × 4 = Rs. 36800