What amount will be ₹1440 in 4 years at 5% simple interest?
Answer & explanation
Correct answer: option 3
Simple interest of 4 years = 4 × 5% = 20%
Let Sum invested = 100%
ATQ,
( 100+20 )% = 1440
120% = 1440
1% = 12
Sum invested = 12 × 100 = Rs.1200