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      Question

      A certain sum when invested for 3 years in a scheme offering simple interest of 12% p.a. gives an interest of Rs. 792. What is 114% of the sum invested?

      A Rs. 2518 Correct Answer Incorrect Answer
      B Rs. 2528 Correct Answer Incorrect Answer
      C Rs. 2508 Correct Answer Incorrect Answer
      D Rs. 2548 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Let the sum invested = Rs. 100Y Then interest earned = 100Y × (0.12 × 3) = Rs. 36Y Or, 36Y = 792 Or, Y = (792/36) = 22 So, sum invested = Rs. 2200 114% of sum invested = 2200 × 1.14 = Rs. 2508

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