On a deposit of ₹1,50,000, R gets ₹2,000 as interest on simple rate of interest in a year. How much amount (in ₹) should he deposit to get interest of ₹4,500?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 3,37,500.
The ratio of interest to principal =
Let the new principal be = x
The ratio of new interest to new principal = 4500/x
The two ratios = 2000/150000 = 4500/x
x = (4500 × 150000)/2000 = 337500