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Wafa Sahil Varghese
Asked: 2022-11-08T15:45:31+05:30 In:

If a certain sum becomes Rs. 1237.50 in four years with some annual rate of simple interest and it becomes Rs. 1443.75 in six years, then the principal amount is:
1. Rs. 860.50
2. Rs. 870
3. Rs. 825
4. Data are insufficient

If a certain sum becomes Rs. 1237.50 in four years with some annual rate of simple interest and it becomes Rs. 1443.75 in six years, then the principal amount is:
1. Rs. 860.50
2. Rs. 870
3. Rs. 825
4. Data are insufficient
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1 Answer

  1. Correct Answer – Option 3 : Rs. 825

    Given:

    Amount in 4 years = Rs 1237.50

    Amount in 6 years = Rs 1443.75

    Formula used:

    SI = (P × R × T)/100

    A = P + SI

    Here, A, P, R, T and SI are amount, principal, rate, time and simple interest respectively

    Concept used:

    SI is equal every year

    Calculation:

    The amount in 4 years = Rs 1237.50

    The amount in 6 years = Rs 1443.75

    SI for 2 years = 1443.75 – 1237.50 = 825/4

    Then, SI for 4 years = 825/4 × 2 = 825/2

    Principal = Amount for 4 years – SI for 4 years 

    ⇒ 1237.5 – 825/2

    ⇒ 825

    ∴ The principal is Rs 825

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