Question
Download Solution PDFA sum of money amounts to Rs. 767 in 3 years, and to Rs. 806 in 4 years on simple interest at 6% annum. What is the sum?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A sum of money amounts to Rs. 767 in 3 years, and to Rs. 806 in 4 years on simple interest at 6% annum.
Calculation:
Interest for 1 year = 806 - 767
⇒ 39
Interest in 3 years = 39 × 3
⇒ 117
So, sum = 767 - 117
⇒ 650
∴ The sum is Rs. 650.
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