Question 121

A certain sum becomes Rs 1020 in 5 years and Rs 1200 in 8 years at simple interest. What is the value of principal?

Solution

Simple interest for 3 years = 1200 - 1020 = 180 (or 60 for 1 year)

Then simple interest for 5 years = 300

Sum becomes 1020 in 5 years, hence, principal amount = 1020 - 300 = 720.

Hence, option D is the correct answer.

Share on Whatsapp Share on Whatsapp

Create a FREE account and get: