On a deposit of ₹1,50,000, R gets ₹2,000 as interest on a simple rate of interest in a year. How much amount (in ₹) should he deposit to get an interest of ₹4,500?
- A3,77,500
- B2,77,500
- C4,25,500
- D3,37,500
Solution & Step-by-step Explanation
For a fixed rate of interest and time period, the simple interest earned is directly proportional to the principal amount deposited.
I∝P⟹
P
1
I
1
=
P
2
I
2
Given:
P
1
=₹1,50,000
I
1
=₹2,000
I
2
=₹4,500
Let the new deposit be P
2
:
150000
2000
=
P
2
4500
150
2
=
P
2
4500
2⋅P
2
=4500×150
P
2
=4500×75=3,37,500
Thus, he should deposit ₹3,37,500.
I∝P⟹
P
1
I
1
=
P
2
I
2
Given:
P
1
=₹1,50,000
I
1
=₹2,000
I
2
=₹4,500
Let the new deposit be P
2
:
150000
2000
=
P
2
4500
150
2
=
P
2
4500
2⋅P
2
=4500×150
P
2
=4500×75=3,37,500
Thus, he should deposit ₹3,37,500.