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    Question

    A certain sum when invested for 3 years in a scheme

    offering simple interest of 16% p.a. gives an interest of Rs. 1128. What is 160% of the sum invested?
    A Rs. 3700 Correct Answer Incorrect Answer
    B Rs. 3760 Correct Answer Incorrect Answer
    C Rs. 3770 Correct Answer Incorrect Answer
    D Rs. 3860 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the sum invested = Rs. 100Y Then interest earned = 100Y × (0.16 × 3) = Rs. 48Y Or, 48Y = 1128 Or, Y = (1128/48) = 23.5 So, sum invested = Rs. 2350 160% of sum invested = 2350 × 1.60 = Rs. 3760

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