Home » Aptitude » Simple Interest

A sum was put at simple interest at a certain rate for 10 years . Had it been put at 5% higher rate , it would have fetched Rs.600 more. What was the Sum?

Correct Answer: Rs.1200

Explanation:

At 5% more rate, the increase in S.I for 10 years = Rs.600  (given)


So, at 5% more rate, the increase in SI for 1 year = 600/10 = Rs.60/-


i.e. Rs.60 is 5% of the invested sum


So, 1% of the invested sum = 60/5


Therefore, the invested sum = 60 × 100/5 = Rs.1200


← Previous Question Next Question→

More Questions from Simple Interest

Discussion & Comments

No comments yet. Be the first to comment!
Join Discussion