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The simple interest on a certain sum of money for 3 yr at 8% p.a. is half the compound interest on Rs. 8000 for 2 yr at 10% pa. Find the sum placed on simple interest.
1. Rs. 3500
2. Rs. 3800
3. Rs. 4000
4. Rs. 3600

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Correct Answer - Option 1 : Rs. 3500

Given:

Time(T) = 3 years

Rate (R) = 8% pa

Amount for CI = Rs. 8000

Time for CI = 2 yr

Rate for CI = 10%

Calculations:

CI = [8000 × (1 + 10/100)2 – 8000]

⇒ (8000 × 11/10 × 11/10 - 8000)

⇒ (9680 - 8000)

⇒ 1680

∴ Sum = 840 × 100 / 3 × 8 = 3500 {∴ SI = 1680 / 2 = 840}

The sum placed on simple interest is Rs. 3500.

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