A sum of Rs. 800 invested on simple interest becomes Rs. 1200 in 8 years. What will be simple interest for 6 years on the sum at the same rate of interest?
Show answer & explanation
Correct answer: D
Explanation
Correct Answer is option 4 i.e. Rs. 300
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Understanding |
Application |
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SI for 8 years = 1200 – 800 = Rs. 400 |
Hence, SI for 1 year = 400/8 = Rs. 50 So, SI for 6 years = 50 × 6 = Rs. 300 |