Multiple choice

A sum at simple interest of (13\frac{1}{2})% per annum amounts to Rs. 3080 in 4 years. Find the sum?

  1. Rs. 1550

  2. Rs. 2000

  3. Rs. 1850

  4. Rs. 1680

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple interest for 4 years at 13.5%: SI = P×0.135×4 = 0.54P. Amount = P + 0.54P = 1.54P = 3080. Therefore P = 3080÷1.54 = 2000. The principal sum is Rs. 2000.

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