Question
A certain sum when invested for 3 years in a scheme
offering simple interest of 15% p.a. gives an interest of Rs. 693. What is 125% of the sum invested?Solution
Let the sum invested = Rs. 100Y Then interest earned = 100Y × (0.15 × 3) = Rs. 45Y Or, 45Y = 693 Or, Y = (693/45) = 15.4 So, sum invested = Rs. 1540 125% of sum invested = 1540 × 1.25 = Rs. 1925
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