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Question : A sum of money at simple interest amounts to INR 800 in 3 years and to INR 900 in 4 years. The sum is:

Option 1: INR 800

Option 2: INR 600

Option 3: INR 500

Option 4: INR 700


Team Careers360 13th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: INR 500


Solution : Amount for 3 years = INR 800
Amount for 4 years = INR 900
Simple interest = Amount – Principal
$\therefore$ Simple interest for third year = 900 – 800 = INR 100
Total simple interest for 3 years = 100 × 3 = INR 300
$\therefore$ Principal sum = 800 – 300 = INR 500
Hence, the correct answer is INR 500.

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