Question 18

The simple interest on a certain sum for 3 years at 8% p.a is ₹ 90 more than simple interest at 9% p.a for 2 years on the same sum. The sum is (in rupees):

Solution

Let the principal amount be 'x'

Sum for 3 years at 8% p.a = 24% of x and sum for 2 years at 9% p.a = 18% of x

According to the question,

24% of x - 18% of x = 90

6% of x = 90

x = 90 / 0.06 (or) 1500

Hence, option D is the correct answer.

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