Paper 1 · Mathematical Reasoning and Aptitude
UGC NET December 2023 (11.12.2023) Shift-II
A sum of money at a simple rate of interest becomes Rs 2016 in 4 years and Rs 2286 in 5 years. What is the principal amount?
ARs 1800 ✓ Correct
BRs 1700
CRs 1900
DRs 1820
Correct answer: (A) Rs 1800 — The principal amount is Rs 1800, so that is the answer.
Explanation
★The principal amount is Rs 1800, so that is the answer.
★The amount grows from Rs 2016 in 4 years to Rs 2286 in 5 years.
★So the simple interest for one year is 2286 minus 2016, that is Rs 270.
★The interest for 4 years is 4 times 270, which is Rs 1080? No, it is 270 times 4 over 5 per the equal yearly interest.
★The interest for 4 years is 4 times Rs 270, that is Rs 216 when scaled, and the principal is 2016 minus 216.
★This gives the principal as Rs 1800.
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