Question 86

The simple interest on a sum for 8 years is Rs 47500. The rate of interest for the first 5 years is 10% per annum and for the next 3 years is 15% per annum. What is the value (in Rs) of sum?

Solution

Let the sum = Rs. $$100x$$

Rate of interest for first 5 years = 10% and for next 3 years = 15%

=> Simple interest = $$\frac{P\times R\times T}{100}$$

=> $$(\frac{100x\times 10\times5}{100})+(\frac{100x\times15\times3}{100})=47500$$

=> $$50x+45x=47500$$

=> $$x=\frac{47500}{95}=500$$

$$\therefore$$ Sum = $$100\times500=Rs.$$ $$50,000$$

=> Ans - (A)

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