A certain sum amounts to Rs. 2584 at 15% p.a. simple interest in 2\(\frac{2}{5}\) years. Find double of the sum.
Answer & explanation
Correct answer: option 4
Total rate = 15% × \(\frac{12}{5}\) = 36%
⇒ P × 136% = 2584
⇒ P = \(\frac{2584}{136}\) × 100 = 1900
⇒ 2P = 3800/-