If a certain sum of money on simple interest amounts to Rs. 1980 and Rs. 2070. in 2 years and 3 years, respectively, then what is the sum (in ₹)?.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 1800
Given:
A certain sum of money on simple interest amounts to Rs. 1980 and Rs. 2070 in 2 years and 3 years
Formula used:
Principal = Amount - Interest
Calculations:
Simple interest for 1 year = 2070 - 1980 = 90
Simple interest for 2 years = 180
Principal = 1980 - 180 = 1800