Q177
ArithmeticSimple & Compound Interest
If difference between simple interest on a certain sum at 4% for 6 years and at 5% for 4 years is ₹ 28, find the sum.
- a.₹ 200
- b.₹ 400
- c.₹ 500
- d.₹ 700
Answer: (D) ₹ 700
4% for 6 years is 24% of the sum and 5% for 4 years is 20%, a difference of 4%. So 4% of the sum = ₹ 28 and the sum is ₹ 700. ₹ 400 or ₹ 500 would give a difference of only ₹ 16 or ₹ 20.