Question
A certain sum of money becomes Rs. 1300 in 1 year and 2700 in 3 years at certain rate of simple interest. Find the sum of money invested.
Solution
Interest earned in 2 years = 2700 – 1300 = Rs. 1400 So the interest earned in 1 year = 1400/2 = Rs. 700 So, the sum of money invested = 1300 – 700 = Rs. 600
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