Question
A man invested certain sum at 8.5% p.a. simple interest
for his son who was 20 years old. If the amount received by the son when he was 26 years old is Rs. 4848, then find the approximate sum invested by the man.Solution
Given: Amount received = Rs. 4848 Interest rate = 8.5% p.a. Time = 6 years (26 years - 20 years) Formula for Simple Interest: 
Substitute the values:
The sum invested is Rs. 3220 or approximate Rs.3200
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