Question

46. What sum will amount to * 6600 in 4 yrs at 8% per annum simple interest? (a) 6000 (b) 5000 (c) 4000 (d) * 6200
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Answer 1

Answer: 5000

Complete step-by-step answer:

Let the sum which will amount to Rs 6,600 in 4 years @ 8% per annum be P.

We know that the interest on the amount P for time t years @ r% per annum is given by I=P×r×t100

Hence, we have

I=P×8×4100=8P25

We know that the amount A is given by A=I+P

Hence, we have

A=8P25+P=33P25

But given that A = 6600

Hence, we have

33P25=6600

Multiplying both sides by 25, we get

33P=25×6600

Dividing both sides by 33, we get

P=25×660033=25×200=5000

Hence the sum which will amount to Rs 6,600 @ 8% per annum for 4 years at simple interest is Rs. 5000.

Hence option (B) is correct.