Question
A certain sum of money becomes Rs. 1900 in 1 year and 2600 in 3 years at certain rate of simple interest. Find the sum of money invested.
Solution
Interest earned in 2 years = 2600 – 1900 = Rs. 700 So the interest earned in 1 year = 700/2 = Rs. 350 So, the sum of money invested = 1900 – 350 = Rs. 1550
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