Question : A sum of money, invested at a certain rate of simple interest per annum, amounts to INR 720 in 4 years and to INR 800 in 5 years. The sum invested is:
Option 1: INR 400
Option 2: INR 600
Option 3: INR 500
Option 4: INR 360
Correct Answer: INR 400
Solution :
Amount after 4 years = INR 720
Amount after 5 years = INR 800
Interest of 1 year = INR 800 – INR 720 = INR 80
So, the interest of 4 years = 4 × INR 80 = INR 320
Principal = Amount after 4 years – interest of 4 years = INR 720 – INR 320 = INR 400
Hence, the correct answer is INR 400.
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