The amount of a certain sum at simple interest at 8% per annum in 7
2
1
years is ₹3,000 less than twice the sum. The sum (in ₹) is:
- A6,500
- B7,500
- C7,000
- D7,200
Solution & Step-by-step Explanation
Let the sum (Principal) be P.
Rate of interest (R) = 8% per annum
Time (T) = 7
2
1
years=
2
15
years
Simple Interest (SI) earned is:
SI=
100
P×R×T
=
100
P×8×
2
15
=
100
P×60
=0.6P
The total Amount (A) is:
A=P+SI=P+0.6P=1.6P
According to the given condition, the amount is ₹3,000 less than twice the sum (2P):
A=2P−3000
1.6P=2P−3000
2P−1.6P=3000
0.4P=3000
P=
0.4
3000
=
4
30000
=7500
Rate of interest (R) = 8% per annum
Time (T) = 7
2
1
years=
2
15
years
Simple Interest (SI) earned is:
SI=
100
P×R×T
=
100
P×8×
2
15
=
100
P×60
=0.6P
The total Amount (A) is:
A=P+SI=P+0.6P=1.6P
According to the given condition, the amount is ₹3,000 less than twice the sum (2P):
A=2P−3000
1.6P=2P−3000
2P−1.6P=3000
0.4P=3000
P=
0.4
3000
=
4
30000
=7500