A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:Rs. 650Rs. 690Rs. 698Rs. 700
Question
A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:
- Rs. 650
- Rs. 690
- Rs. 698
- Rs. 700
Solution
The difference in the amounts of money after 3 years and 4 years is the simple interest for 1 year.
So, Rs. 854 - Rs. 815 = Rs. 39 is the simple interest for 1 year.
Since the simple interest is the same every year, the original sum of money (the principal) is Rs. 815 (the total after 3 years) - Rs. 39 (the simple interest for 1 year).
So, the sum is Rs. 815 - Rs. 39 = Rs. 776.
However, none of the options (Rs. 650, Rs. 690, Rs. 698, Rs. 700) match this answer. There seems to be a mistake in the options provided.
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