If the amount obtained by A by investing Rs 9,100 for three years at a rate of 10%p.a. on simple interest is equal to the amount obtained by B by investing a certain sum of money for five years at a rate of 8% p.a. on simple interest, then 90% of the sum invested by B (in Rs) is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 7,605
Let the amount invested by B = P
According to the question,
A invested the amount at the rate of 10% for 3 years, then the amount becomes 130% of the initial sum.
9100 × 130% = P × 140%
On solving further,
P = 8450
90% of P = 7605.