The simple interest on a certain sum is 50% of the sum in 8 years at a certain rate per cent p.a. What will be the interest (in ₹) on a sum of ₹ 7,200 at the same rate in years at simple interest?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 2,550.
SI = (P × R × T)/100
⇒ SI = (P × R × 8)/100 = P/2
⇒ R = (100 × P/2)/(P × 8) = 6.25%
New SI = (7200 × 6.25 × 17)/(100 × 3) = 2550