Question

The S.I and C.I on a certain sum of money is lent out for 2 years at a certain rate are respectively Rs.900 and Rs.920.25.Find the sum and rate of interest.​

Answer 1

Answer:

The simple interest and compound interest (compounded annually) on a certain sum of money with a given rate for a period of 2 years are Rs.900 and Rs. 954 respectively. The sum of money is:

A) Rs. 3700

B) Rs. 3650

C) Rs. 3850

D) Rs. 3750

Correct Answer:

D) Rs. 3750

Description for Correct answer:

SI for 2 years = Rs. 900

SI for 1 year =9002 = Rs.450

CI for 2 years = Rs.954

Difference between CI for SI =(954−900)=Rs. 54

Required Rate % =54450×100=12

Required sum=45012×100

= Rs. 3750