A sum of money at simple rate of interest becomes Rs. 2016 in 4 years and Rs. 2286 in 9 years. What is…
The amount grows from 2016 to 2286 over five years, so the simple interest for 5 years is 270 and for one year is 54. The interest for the first 4 years is 216. Hence the…
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A sum of money at simple rate of interest becomes Rs. 2016 in 4 years and Rs. 2286 in 9 years. What is the principal amount?
Answer and explanation
Correct answer A
The amount grows from 2016 to 2286 over five years, so the simple interest for 5 years is 270 and for one year is 54. The interest for the first 4 years is 216. Hence the principal is rupees.
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