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?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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