A person invests certain amount on simple interest After 8 years he gets 16 interest If he invests t...........

Quantitative Aptitude(IBPS PO) Simple Interest

A person invests certain amount on simple interest. After 8 years he gets 16% interest. If he invests the same sum for 4 years, then he gets Rs. 9600 as interest, then the sum is

Rs. 96000

Rs. 80000

Rs. 48000

Rs. 60000

None of these

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Explanation:

In 8 years, he gets 16% as interest,
then
In 4 years, he will get 16/2 = 8% as interest
According to question
8% ≡ Rs. 9600
⇒ 1% ≡ Rs. 1200
⇒ 100% ≡ Rs. 120000
Hence, the sum = 100% ≡ Rs. 120000.