What Sum of Money Will Produce Rs. 70? if

What sum of money will produce Rs. 70 as simple interest in 4 years at 3.5 % ?

  1. Rs. 450
  2. Rs. 550
  3. Rs. 500
  4. Rs. 600
Harsh Vardhan Professor Asked on 27th July 2015 in Maths.
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  • 1 Answer(s)

    Answer: (3) Rs,500
    Explanation:-
    Let the sum of money is Rs.X
    Formula-
    Simple Interest = P x R x T/100
    Where, P – principal, R – rate  & T – time.
    Simple Interest = Rs.70,  Time = 4 years, Rate = 3.5%  &   =  ?
    Then,
    70 = X x  35 x 4/10 x 100
    70 = X x 7/10 x 5
    10 = X / 50
    X = Rs.500
    Hence, the answer is (3) Rs.500.

    Anurag Mishra Professor Answered on 27th July 2015.
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