Question 96

A sum fetched a total simple interest of Rs. 7728 at the rate of 7% per year in 8 years. What is the sum?

Solution

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

Rate = 7% under simple interest and time = 8 years

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

=> $$\frac{100x \times 7 \times 8}{100}=7728$$

=> $$56x=7728$$

=> $$x=\frac{7728}{56} = 138$$

$$\therefore$$ Sum = $$100 \times 138 = Rs$$ $$13,800$$

=> Ans - (A)

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