Question
A sum of money grows to Rs. 2,800 in 3 years and Rs. 3,280
in 5 years under simple interest. What is the original principal amount?Solution
ATQ,
Difference in interest over 2 years: 3,280 − 2,800 = 480
Annual interest: 480 / 2 = 240
Principal = 2,800 − (3 × 240) = 2,080
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