A sum of money lent out at simple interest amounts to Rs.720 after 2 years and t

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Question

A sum of money lent out at simple interest amounts to Rs.720 after 2 years and to Rs.1020 after a further period of 5 years. The sum is :

Options:

A . Rs.600

B . Rs.500

C . Rs.710

D . Rs.700

Answer: Option A
Answer: (a)Principal + SI for 2 years = Rs.720 .... (i)Principal + SI for 7 years = Rs.1020 .....(ii)Subtracting equation (i) from (ii) get,SI for 5 years= Rs.(1020 - 720) = Rs.300SI for 2 years= Rs.300 × $2/5$ = Rs.120Principal = Rs.(720 - 120) = Rs.600Using Rule 12,P = $({A_2T_1 - A_1T_2}/{T_1 - T_2})$= $({1020 × 2 - 720 × 7}/{2 - 7})$= $({2040 - 5040}/{- 5})$= ${- 3000}/{- 5}$ = Rs.600

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