The discount on a certain sum is due for 3 years, hence it is ₹100. But the interest on the same s

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05 Jan 2022 Interest

The discount on a certain sum is due for 3 years, hence it is ₹100. But the interest on the same sum for the same period is ₹110. Find the sum and the interest rate

OPtion

1. 1350
2. 1260
3. 1444
4. 1256
5. 1100
6. 1256
7. 1110
8. 1050
9. 1056
10. None of the above

Solution

We have,
S.I. on T.D. = S.I. - T.D.
= 110 - 100 = ₹10.
∴ Rate (R) = 10 x 100 / (100 x 3)
= 1000 / 300 = 3.33%
and, Sum (A) = S.I. x T.D. / (S.I. - T.D.)
= 110 x 100 / (110- 100)
= 11000 / 10
= ₹1100

Correct Option: 5 Best Solution (0)