Question
A certain sum of money becomes Rs. 1500 in 1 year and
2800 in 3 years at certain rate of simple interest. Find the sum of money invested.Solution
Interest earned in 2 years = 2800 – 1500 = Rs. 1300 So the interest earned in 1 year = 1300/2 = Rs. 650 So, the sum of money invested = 1500 – 650 = Rs. 850
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