A sum of money amounts to ₹767 in 3 years and to ₹806 in 4 years on simple interest at 6% annum. What is the sum?
Answer & explanation
Correct answer: option 4
Amount becomes 767 in 3 yrs and 806 in 4 years, it means interest of 1 year = 806 - 767 = 39 Rs.
So, Interest of 3 year = 39 × 3 = 117 Rs.
Here, Principal = Amount - Interest
= 767-117 = Rs 650