If the simple interest on a certain sum of money for 15 months at 7$1/2$% per annum exceeds the simple interest on the same sum for 8 months at 12$1/2$% per annum by Rs.32.50, then the sum of money (in ) is :
Options:
A . 312.50
B . 312
C . 3120.50
D . 3120
Answer: Option D Answer: (d)Using Rule 1,Let the sum be x.Using formula, I = $\text"PRT"/100$ we have${x × 15/12 × 15/2}/{100 - x} - {x × 8/12 × 25/2}/100$= 32.50${25x}/2400$ = 32.50$x = {32.50 × 2400}/25$ = 3120Required sum = Rs.3120
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