Question

Find the sum if the simple interest on a sum at 10% per annum for 4 years and 5 years differ by Rs. 53.

1. Rs. 540
2. Rs. 550
3. Rs. 560
4. Rs. 530

Answer 1

Correct Answer - Option 4 : Rs. 530

Given:

S.I._{5 years} – S.I._{4 years} = Rs.53

Formula Used:

S.I. = (P × R × T)/100

Where,

S.I. → Simple Interest

P → Principal

R → Rate 

T → Time 

Calculations:

Let the principal be Rs. P.

So, S.I._{5 years} = (P × 10 × 5)/100 = P/2

⇒ S.I.5 years = P/2

Similarly, S.I._{4 years} = (P × 10 × 4)/100 = 2P/5

According to the question

⇒ (P/2) – (2P/5) = 53

⇒ (P/10) = 53

⇒ P = Rs. 530

∴  The sum is Rs. 530.