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    Question

    A sum of money is invested at an annual simple interest

    rate of 15% for a period of 3 years, yielding a total interest of Rs. 1350. Determine the principal amount.
    A 2500 Correct Answer Incorrect Answer
    B 3000 Correct Answer Incorrect Answer
    C 4200 Correct Answer Incorrect Answer
    D 3560 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Let the sum be Rs. P Simple interest received = {(P X R X T)/100} Or, 1350 = {(P X 15 X 3)/100} Or, P = {(1350 X 100)/ (15 X 3)} Or, P = 3000 Therefore, sum invested = Rs. 3000

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