Question
A certain sum when invested for 3 years in a scheme
offering simple interest of 10% p.a. gives an interest of Rs. 765. What is 110% of the sum invested?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 110% of sum invested = 2550 × 1.10 = Rs. 2805
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