Question 21
A certain sum of money, invested on simple interest, amounts to Rs. 756 in 2 years and to Rs. 873 in 3.5 years. Find the sum (in Rs.).
Step-by-Step Solution
CONCEPT USED
Simple Interest: SI = (P $\times R \times T) / 100$, where P is the principal, R is the annual rate (%) and T is time in years.
STEP-BY-STEP SOLUTION
SI for 1.5 years = 873 - 756 = Rs. 117
SI for 1 year = 78. SI for 2 years = 156. Principal $P = 756 - 156 = Rs$. 600.
FINAL