Question
Anurag invested a certain amount at an annual simple
interest rate of 32% for the benefit of their child, who was 13 years old at the time. If the total amount received when the child turned 24 years old was Rs. 4520, what was the principal sum initially invested by the Anurag?Solution
ATQ, Let the sum invested by the Anurag be Rs.'a' According to the question, {(a Ă— 32 Ă— 11)/100} + a = 4520 Or, a = (4520/4.52) = Rs. 1000
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