Question

The simple interest on a sum of money for 10 years is Rs.3130. If the principal becomes 5 times after 5 years, then what will be the total interest obtained 
1. 9390
2. 9560
3. 9456
4. 9123

Answer 1

Correct Answer - Option 1 : 9390

Given

Si for 10 years = Rs.3130

⇒ \(\frac{{P × R × T}}{{100}} = 3130\)

⇒ \(\frac{{P × R}}{{10}} = 3130\) - - (i)

According to the question

Si = \(\frac{{P × 5 × R}}{{100}} + \frac{{5P × 5 × R}}{{100}}\)

Si = \(\frac{{30PR}}{{100}}\)

Si = \(\frac{{3PR}}{{10}}\) - - (ii)

From equation (i)

⇒ 3 × 3130

⇒ Rs.9390