Question

    A certain sum when invested for 3 years in a scheme

    offering simple interest of 10% p.a. gives an interest of Rs. 756. What is 130% of the sum invested?
    A Rs. 3215 Correct Answer Incorrect Answer
    B Rs. 3415 Correct Answer Incorrect Answer
    C Rs. 3315 Correct Answer Incorrect Answer
    D Rs. 3355 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the sum invested = Rs. 100Y Then interest earned = 100Y × (0.10 × 3) = Rs. 30Y Or, 30Y = 765 Or, Y = (765/30) = 25.5 So, sum invested = Rs. 2550 130% of sum invested = 2550 × 1.3 = Rs. 3315

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