| Arvind deposited a sum of money with a bank on January 1, 2012 at 8% simple interest per annum He received an amount Rs. 3144 on August 7, 2012. The money he deposited with the bank was [SSC (10+2)2015] |
A) Rs. 3100
B) Rs. 3000
C) Rs. 3080
D) Rs. 2500
Correct Answer: B
Solution :
| Let the principle be P. |
| We have, r = 8% and t = 219 days |
| (till 7 August)\[=\frac{219}{365}yr\] |
| Now, \[A=P\left( 1+\frac{r\,t}{100} \right)\] |
| \[\Rightarrow \] \[3144=P\left( 1+\frac{8}{100}\times \frac{219}{365} \right)\] |
| \[\Rightarrow \] \[3144=P\left( 1+\frac{6}{125} \right)\] |
| \[\Rightarrow \] \[3144=P\left( \frac{131}{125} \right)\] |
| \[\Rightarrow \] \[P=\frac{3144\times 125}{131}=3000\] |
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