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    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.
    A Rs. 1400 Correct Answer Incorrect Answer
    B Rs. 1410 Correct Answer Incorrect Answer
    C Rs. 1440 Correct Answer Incorrect Answer
    D Rs. 1240 Correct Answer Incorrect Answer

    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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