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

Simple interest on an amount at 4% per annum for 13months 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 & Solution

Answer: Option B
Solution:
12,000