Question
A certain sum when invested for 3 years in a scheme
offering simple interest of 12% p.a. gives an interest of Rs. 918. What is 122% of the sum invested?Solution
Let the sum invested = Rs. 100Y Then interest earned = 100Y × (0.12 × 3) = Rs. 36Y Or, 36Y = 918 Or, Y = (918/36) = 25.5 So, sum invested = Rs. 2550 122% of sum invested = 2550 × 1.22 = Rs. 3111
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