Simple interest on an amount at 4% per annum for 13 months is more than the simple interest on the same sum for 8 months at 6% per annum by ₹40. What is the principal amount?

Aptitude and Reasoning MCQ Questions with Solutions

Simple interest on an amount at 4% per annum for 13 months is more than the simple interest on the same sum for 8 months at 6% per annum by ₹40. What is the principal amount??

A) ₹3,600
B) ₹12,000
C) ₹4,800
D) ₹24,000

Answer & Description:

B) ₹12,000