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On what .sum of money lent at 9% p.a. for 4 years will the simple interest amount to Rs.864?

A) Rs.4800
B) Rs.3600
C) Rs.2400
D) Rs.6000

Correct Answer:



C) Rs.2400

Description for Correct answer:
The rate of interest r = 9%. Number of years n = 4 yrs. Simple interest SI = 864,

\( \Large SI = \frac{PNR}{100} \)

Therefore, the sum of money lent, \( \Large P = \frac{SI \times 100}{n \times r} = \frac{864 \times 100}{4 \times 9} \) = Rs.2400

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

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Similar Questions

1). If Rs.84 invested at a certain rate of simple interest amounts to Rs.96 at the end of 3 years, how much will Rs.105 amount to at the same rate of interest in 5 years?

A). Rs.1200

B). Rs.1300

C). Rs.1400

D). Rs.1310

2). A merchant borrowed a total of Rs.4000 from two lenders. He paid simple interest at the rate of 5% p.a. to one of them and 7% p.a. to the other. If the total interest paid for three years was Rs.696. how much did he borrow at each rate?

A). Rs.2400 and Rs.1600

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B). 10 Years

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A). 9 Years

B). 10 Years

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6). Find the amount and compound interest on Rs.20,000 for 2 years at 20% p. a., interest being compounded annually.

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7). What is the amount and interest earned on Rs.50,000 for 18 months at the rate of 20% p.a., if interest is compounded half yearly?

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8). What principal will amount to Rs.19,965 in 3 years at 10% p.a. compound interest?

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