Correct option is A
Given:
Simple interest rate 1 = 8% p.a. for 3.5 years
Simple interest rate 2 = 0.5% p.a. for 12 years
The difference between total amount at maturity for first case and interest in second case is ₹156.
Formula Used:
SI = 100P×R×T
Total amount (A) at maturity:
A = P + SI
Solution:
Let the Principal be P , then
For condition 1;
SI1=P×1008×3.5=P×0.28
A1=P+SI1=P+P×0.28=P(1+0.28)=P×1.28
For second condition;
SI2=P×10010.5×12=P×1.26
Now, the total amount at maturity for the first case exceeds the simple interest in the second case by ₹156:
A1−SI2=156
P×1.28−P×1.26=156
P×(1.28−1.26)=156
P×0.02=156
P=0.02156=7800
Thus, Principal be ₹7800
English
100 Questions
100 Marks
90 Mins
