Question
A certain sum of money becomes Rs. 1800 in 1 year and
2500 in 3 years at certain rate of simple interest. Find the sum of money invested.Solution
Interest earned in 2 years = 2500 – 1800 = Rs. 700 So the interest earned in 1 year = 700/2 = Rs. 350 So, the sum of money invested = 1800 – 350 = Rs. 1450
More Simple and compound interest Questions
Which method is used by Hicks to eliminate the income effect when price of a product is changed
In an open economy, ceteris paribus, If the marginal propensity to import increases, what will be the impact on Income Multiplier?
Calculate Domestic Income:
