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A sum was lent out for a certain time The sum amounts to RS. 400 at 10% annual interest rate. When the sum was lent out at 4% annual interest rate, it amounts to RS. 200. Find the sum.

A) RS.200/3
B) RS.100
C) RS.400/3
D) RS.500/3

Correct Answer:

A) RS.200/3

Description for Correct answer:

According to the question,

\( \Large \left( P+ \frac{P\times 10\times T}{100}\right) \) - \( \Large \left( P+ \frac{P\times 4\times T}{100}\right) \)

= 400-200

=> \( \Large \frac{6PT}{100} \)=200

=> PT=\( \Large \frac{200\times 100}{6}=\frac{10000}{3} \)

Again, for 10% rate,

SI=\( \Large \frac{P\times 10\times T}{100} \)=\( \Large \frac{10000/3\times 10}{100} \)= \( \Large \frac{1000}{3} \)

Sum (P)= \( \Large 400-\frac{1000}{3} \)= \( \Large \frac{1200-1000}{3} \)

= RS.\( \Large \frac{200}{3} \)

Part of solved Simple and compound interest questions and answers : >> Aptitude >> Simple and compound interest

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