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Q.
A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum ?
A.
Rs. 5858
B.
Rs. 8800
C.
Rs. 7000
D.
Rs. 6350
View Answer
Correct choice: C
Explanation:
Let the sum be Rs. S. (S x 18 x 2)/100 - (S x 12 x 2)/100 = 840 => 36S/100 - 24S/100 = 840 => 12S/100 = 840 => S = 7000.
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