Question 11

A sum becomes Rs 8800 in 4 years at simple interest at the yearly interest rate of 25% per annum. What is the sum (in Rs)?

Solution

Let principal = Rs. $$x$$

Rate of interest = 25% and time period = 4 years

=> Amount under simple interest = $$P+\frac{P\times R\times T}{100}$$

=> $$x+\frac{x\times25\times4}{100}=8800$$

=> $$x+\frac{100x}{100}=8800$$

=> $$x+x=2x=8800$$

=> $$x=\frac{8800}{2}=Rs.$$ $$4400$$

=> Ans - (A)

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