Aman invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5years. Raj sees this and invests Rs. 6250 for 3 years at same rate of interest. How much interestdoes Raj get?
A)rs. 3750
B)rs. 6250
C)rs. 3125
D)rs. 4250

Question

Quizplus · Accepted Answer

The rate of interest can be calculated from Aman's investment: If Rs. 8000 doubles in 5 years, the interest earned is Rs. 8000, so the rate is (8000/8000)/5 = 0.2 or 20% per annum. For Raj, the interest for 3 years on Rs. 6250 at 20% per annum is 6250 * 0.2 * 3 = Rs. 3750.

Aman Invests Rs