M borrowed some money for 1 year at certain simple interest. But the interest rate was increased to 2% which amounted to Rs. 120. Find the principal amount. A. Rs. 4,000 B. Rs. 5,000 C. Rs. 6,000 D. Rs. 7,000?

C
D
B
A

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 1 : C

Given:

An increase in interest rate amounts to Rs 120

Concept used:

SI = Prt/100

Calculation:

When the interest increased, an extra Rs 120 was added to the interest.

That is, the 2% increase in interest = Rs 120

⇒ 120 = (P × 2 × 1) /100

⇒ P = 12000/2

⇒ P = 6000

The sum is Rs. 6000.

∴ The principal is Rs 6000.

4 views Answered 2022-09-04 04:29

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