A sum becomes Rs. 3000 at the rate of 12% per annum (simple interest). The same sumbecomes Rs. 3300 at the rate of 15% per annum (simple interest) in the same duration. Find thesum and the duration.
A)rs. 2000 and 20 years
B)rs. 1900 and 8.25 years
C)rs. 1500 and 7 years
D)rs. 1800 and 5.5 years

Question

Quizplus · Accepted Answer

The difference in interest rates is 3% (15% - 12%), and the difference in amounts is Rs. 300 (Rs. 3300 - Rs. 3000). Using the formula for simple interest, we find the sum to be Rs. 1800 and the duration to be 5.5 years.

A Sum Becomes Rs