A sum of money amounts to ₹ 2240 at 4% per annum simple interest in 3 yr. The interest on the same sum for 6 months at 3.5% per annum is
Correct Answer: ₹ 35
Explanation:
If the sum be ₹ P, then
(2240 - P) = (P x 4 x 3)/100
⇒ 2240 = 12P/100 + P
⇒ 2240 = 112P/100
∴ P = (2240 x 100)/112 = ₹ 2000 Now, required interest,
SI = PRT/100 = [{2000 x (7/2) x (1/2)} /100]
= ₹ 35
