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    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.
    A Rs. 2000 Correct Answer Incorrect Answer
    B Rs. 2500 Correct Answer Incorrect Answer
    C Rs. 2700 Correct Answer Incorrect Answer
    D Rs. 3200 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    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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