A sum amounts to Rs14,395.20 at 9.25% pa simple interest 5.4 years. What will be the simple interest on the same sum at 8.6% pa in 4.5 years ?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 ie Rs 3715.20.
x → 9.25% × 5.4 → 14395.20
x → 49.95 → 14395.20
x + (50/100)x ≅ 14400
x = 9600
9600 → 38.70% → 3715.20