A sum becomes Rs. 11,650 in 5 years and Rs. 12,076 in 6 years at simple interest. What is the sum?
Show answer & explanation
Correct answer: D
Explanation
Amount after 5 years = 11,650
Amount after 6 years = 12,076
Interest for 1 year = 12,076 − 11,650 = 426
Interest for 5 years = 426 × 5 = 2,130
Principal = 11,650 − 2,130 = 9,520 Rupees