The simple interest on a certain sum of money invested at 7.5% per annum for 4 years is ₹243. What was the sum (in ₹) invested?
Question and options
The simple interest on a certain sum of money invested at 7.5% per annum for 4 years is ₹243. What was the sum (in ₹) invested?
- 840
- 750
- 810
- 900
Answer and explanation
Correct answer: C - 810
Simple interest SI = P x R x T / 100, so P = SI x 100 / (R x T). P = 243 x 100 / (7.5 x 4) = 24300 / 30 = ₹810.
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