Q:
The difference between the simple interest obtained by investing Rs. 'X' with 8% per annum for an year and by investing Rs. 'X+1400' with 8% per annum for two years is 240 Rs. Find the value of X.
Answer & Explanation
Answer: A) 200
Explanation: [(X+1400)*8*2/100] - [(X*8*1)/100]= 240
0.16X + 14*16 - 0.08X = 240
0.08X = 240 - 224
0.08X = 16
X = Rs. 200
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