A sum of ₹95 amounts to ₹105 in 3 years at a certain rate of simple interest. In 5 years, at the same rate of interest, what will a sum of ₹171 amount to:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. ₹201.
₹95 → ₹105 in 3 years → SI = ₹10
SI for ₹171 in 5 years:
= 10 × (171/95) × (5/3)
= 10 × 855 / 285 = ₹30
Amount = 171 + 30 = ₹201