a certain sum of money at simple interest amounts to rs 2240..., Simple Interest, General Mathematics

Question:A certain sum of money at simple interest amounts to Rs.`2240` in `2` years and to Rs.`2600` in `5` years. What is the principal amount ?

A `2.5%` 
B ``3%` 
C `4%` 
D `5%`

/61

+ AnswerC

+ ExplanationS.I for `1 1/2 `Years 

`= Rs. (1067.20 - 1012)`

`= 55.20`

S.I for `2 1/2` years 

`= Rs. (55.20 xx 2/3 xx 5/2)`

`= Rs.92`

`:. principal = Rs. (1012 - 92)`

`= Rs. 920`

`:. Rate = (100 xx 92 xx 2)/(920 xx 5)`

`= 4%`

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