Practicing Success
A certain sum becomes ₹2,356 in 3 years and ₹2,660 in 5 years on simple interest. The value of sum is: |
₹1,800 ₹1,880 ₹1,900 ₹1,980 |
₹1,900 |
The correct answer is Option (3) → ₹1,900 Sum = Rs. 2356 in 3 years Sum = Rs. 2660 in 5 years We know that, Simple Interest formula, Interest = PRT/100, where P is the principal, R is the rate of interest and T is time in years. Difference in the sums gives the interest for 2 years (5 years - 3 years) = Rs. 304 The interest in 3 years will be = 304/2 × 3 = 456 P = 2356 - 456 = 1900 |