Simple interest for three years for a certain sum at the rate of 15% is Rs. 9000. If the rate of interest becomes 30%, then what will be the simple interest for two years?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Rs. 12000.
| Understanding/Application |
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Let the principal be Rs.P Rate of interest = 15% per annum Time period = 3 years S.I. = Rs. 9000 S.I. = PRT/100 9000 = 15 × 3P/100 900000 = 45P P = Rs. 20000 Rate of interest = 30% per annum Time period = 2 years |
| S.I. = (20000 × 30 × 2)/100 = Rs. 12000 |