A sum invested at 5% simple interest per annum grows to ₹806 in 6 years. If the amount remains the same, how much will it grow at a 12% simple interest rate in 5 years?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. ₹992.
SI =
A = P + SI
⇒ P + = 806
⇒ P × = 806
⇒ P = ₹620
Amount = 620 +
⇒ 620 + 372 = ₹992