{"id":4158,"date":"2024-03-05T16:01:56","date_gmt":"2024-03-05T16:01:56","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=4158"},"modified":"2024-03-05T16:01:56","modified_gmt":"2024-03-05T16:01:56","slug":"a-certain-amount-of-money-becomes-944-in-three-years-by-earning-simple-interest-if-the-rate-of-interest-is-increased-by25-the-amount-would-become-980-during-the-same-period-what-was-the-princip","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/a-certain-amount-of-money-becomes-944-in-three-years-by-earning-simple-interest-if-the-rate-of-interest-is-increased-by25-the-amount-would-become-980-during-the-same-period-what-was-the-princip\/","title":{"rendered":"A certain amount of money becomes ? 944 in three years by earning simple interest. If the rate of interest is increased by25%, the amount would become ? 980 during the same period. What was the principal amount ?"},"content":{"rendered":"

[amp_mcq option1=”` 600″ option2=”` 800″ option3=”` 860″ option4=”` 700″ correct=”option1″]<\/p>\n

The correct answer is (a) ` 600.<\/p>\n

Let P be the principal amount.<\/p>\n

The simple interest for 3 years is 944 – P.<\/p>\n

The simple interest for 3 years at 25% higher rate is 980 – P.<\/p>\n

The simple interest is proportional to the principal amount and the rate of interest and the time period.<\/p>\n

So, we have the following equations:<\/p>\n

944 – P = (P)(R)(3)<\/p>\n

980 – P = (1.25)(P)(R)(3)<\/p>\n

Solving the above equations, we get P = 600.<\/p>\n

The other options are incorrect because they are not the principal amount.<\/p>\n","protected":false},"excerpt":{"rendered":"

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