A certain sum of money amounts to ₹ 2500 in a span of 5 years and further to ₹ 3000 in a span of 7…
The additional ₹500 over two years implies ₹250 interest per year. The principal is 2500 - 5×250 = ₹1250.
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A certain sum of money amounts to ₹ 2500 in a span of 5 years and further to ₹ 3000 in a span of 7 years at simple interest. The sum is
Answer and explanation
Correct answer D
The additional ₹500 over two years implies ₹250 interest per year. The principal is 2500 - 5×250 = ₹1250.
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UGC NET Law
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UGC NET Paper I