A sum of money amounts to ₹767 in 3 years, and to ₹806 in 4 years on simple interest at 6% annum. What is the sum?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. ₹650
Calculations:
Interest for 1 year = Amount for 4 years - Amount for 3 years = 806 - 767 = 39
Interest of 3 years = 39 × 3 = 117
Sum = Amount - Interest
⇒ Sum = 767 - 117 = 650