Question : A sum of money at simple interest amounts to INR 610 in 3 years and to INR 650 in 4 years. The sum is:
Option 1: INR 610
Option 2: INR 570
Option 3: INR 550
Option 4: INR 490
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Correct Answer: INR 490
Solution : Amount for 3 years = INR 610 Amount for 4 years = INR 650 Simple interest = Amount – Principal Simple interest for third year = 650 – 610 = INR 40 Total simple interest for 3 years = 40 × 3 = INR 120 Principal sum = 610 – 120 = INR 490 Hence, the correct answer is INR 490.
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