A sum of money at simple interest amounts to Rs 815 in 3 years and to Rs 854 in 4 years. What is the sum?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Rs 698
Simple interest is the same every year, so the difference of the two amounts is the interest for one year.
Interest for 1 year \(=854-815=39\)
Interest for 3 years \(=3\times39=117\)
Sum \(=815-117=698\)
The sum is Rs 698.