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Mathematics

The simple interest on a sum of money at 8% per annum for 6 years is half the sum. The sum is:

  1. ₹ 4,000

  2. ₹ 6,000

  3. ₹ 10,000

  4. Data inadequate

Compound Interest

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Answer

Let the sum be ₹ P.

Given,

I = P2\dfrac{P}{2}

T = 6 years

R = 8%

By formula,

I=P×R×T100I = \dfrac{P \times R \times T}{100}

Substituting values we get :

⇒P2=P×8×6100\Rightarrow \dfrac{P}{2} = \dfrac{P \times 8 \times 6}{100}

By doing this calculation we will not obtain the sum, we need to have the interest to calculate the sum.

Hence, Option 4 is correct option.

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