A

Admin • 828.70K Points
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Q. A certain sum of money amounts to Rs 1008 in 2 years and to Rs 1164 in 3 ½ years. Find the sum and the rate of interest.

  • (A) 800, 14%
  • (B) 800, 13%
  • (C) 800, 12%
  • (D) 800, 19%
  • Correct Answer - Option(B)
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Explanation by: Admin
S.I. for 1 ½ years = Rs (1164 - 1008) = Rs 156 .
S.I. for 2 years = Rs (156 x 23 x 2)= Rs 208.
Therefore, Principal = Rs (1008 - 208) = Rs 800.
Now, P = 800, T= 2 and S.I. = 208.
Therefore, Rate = (100 x S.I.) / (P x T) = [ (100 x 208)/(800 x 2)]% = 13%

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