The interest earned when INR ‘P’ is invested for five years in a scheme offering 12% p.a. simple interest is more than the interest earned when the same sum (INR P) is invested for two years in another scheme offering 8% p.a. simple interest, BY INR 110/- , what is the value of P

  • INR 2500
  • INR 2000
  • INR 4000
  • INR 3500
  • INR 3000
  • Explanation:

    According to question,

    P×5×12/100-p×2×8/100=1100

    60 P-16P=110000

    44P=110000

    p=10000/4

    P=INR 2500/-

The interest earned when INR ‘P’ is invested for five years in a scheme offering 12% p.a
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