Question 11

Simple interest on a sum for 18 months at 14% per annum is Rs 1365.What is the value (in Rs) of sum?

Solution

Let principal amount = Rs. $$x$$

Rate of interest = 14% and time period = $$\frac{18}{12}=1.5$$ years

=> Simple interest = $$\frac{P\times R\times T}{100}$$

=> $$\frac{x\times14\times1.5}{100}=1365$$

=> $$\frac{21x}{100}=1365$$

=> $$x=\frac{1365\times100}{21}$$

=> $$x=65\times100=Rs.$$ $$6500$$

=> Ans - (D)

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