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Question : A certain sum becomes Rs. 1,050 in 5 years and Rs. 1,230 in 8 years at simple interest. What is the sum?

Option 1: Rs. 950

Option 2: Rs. 700

Option 3: Rs. 650

Option 4: Rs. 750


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: Rs. 750


Solution : Given: A certain sum becomes Rs. 1,050 in 5 years and Rs. 1,230 in 8 years at simple interest.
So, simple interest for 3 years = 1230 – 1050 = 180
$\therefore$ simple interest for 5 years = $\frac{180}{3}$ × 5 = 300
So, sum = 1050 – 300 = 750
Hence, the correct answer is Rs. 750.

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