Question 41
A sum of money at simple interest amounts to ₹6,000 in 4 years and to ₹6,750 in 7 years at the same rate per cent p.a. of interest. The sum (in ₹) is:
Step-by-Step Solution
CONCEPT USED
Simple Interest: SI = (P $\times R \times T) / 100$, where P is the principal, R is the annual rate (%) and T is time in years.
STEP-BY-STEP SOLUTION
SI for 3 years = 6750 - 6000 = ₹750
Annual SI = ₹250 . SI for 4 years = 250 * 4 = ₹1,000 . Principal $P = 6000 - 1000 =$ ₹5,000 .
FINAL