The simple interest on Rs. P at 15% p.a for 2 years is Rs.300 more than the simple interest on Rs.(P + 500) at 12% p.a for 2 years. What is the simple interest, if Rs.(2P + 500) is lent for 2 years at 12% rate of interest?
A. Rs.1750
B. Rs.2350
C. Rs.3480
D. Rs.4810
E. None of these
Sol:
P * 15% * 2 = (P + 500) * 12% * 2 + 300
30%P=24%P+120+300
6%P=420
=> P = Rs.7000
Required interest = (2P + 500) * 2 * 12/100
=14500*2*12/100
= Rs.3480
