Question
A certain sum of money becomes Rs. 1960 in 1 year and
3000 in 3 years at certain rate of simple interest. Find the sum of money invested.Solution
Interest earned in 2 years = 3000 – 1960 = Rs. 1040 So the interest earned in 1 year = 1040/2 = Rs. 520 So, the sum of money invested = 1960 – 520 = Rs. 1440
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