Question
A certain sum when invested for 3 years in a scheme
offering simple interest of 20% p.a. gives an interest of Rs. 1470. What is 130% of the sum invested?Solution
Let the sum invested = Rs. 100Y Then interest earned = 100Y × (0.20 × 3) = Rs. 60Y Or, 60Y = 1470 Or, Y = (1470/60) = 24.5 So, sum invested = Rs. 2450 130% of sum invested = 2450 × 1.30 = Rs. 3185
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