The interest earned on Rs. 8000 when invested in some scheme for 2 years at 7 % simple interest, per annum is half of the interest earned on another amount P invested for five years in the same scheme at the same rate of interest. Find the value of P.
ARs. 6200
BRs. 6000
CRs. 6400 ✓ Correct
DRs. 5000
Correct answer: (C) Rs. 6400
Explanation
P = Rs. 6400.
SI on 8000 = 8000 x 7 x 2 / 100 = Rs. 1120.
This equals half the interest on P, so interest on P = Rs. 2240.
P x 7 x 5 / 100 = 2240.
P = 2240 x 100 / 35 = Rs. 6400.
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