Question : A certain sum becomes Rs. 1,050 in 5 years and Rs. 1,230 in 8 years at simple interest. What is the sum?
Option 1: Rs. 950
Option 2: Rs. 700
Option 3: Rs. 650
Option 4: Rs. 750
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Correct Answer: Rs. 750
Solution :
Given: A certain sum becomes Rs. 1,050 in 5 years and Rs. 1,230 in 8 years at simple interest.
So, simple interest for 3 years = 1230 – 1050 = 180
$\therefore$ simple interest for 5 years = $\frac{180}{3}$ × 5 = 300
So, sum = 1050 – 300 = 750
Hence, the correct answer is Rs. 750.
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