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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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
Question : A sum of money at simple interest amounts to INR 212 in 2 years and to INR 224 in 4 years. The sum is:
Option 1: INR 400
Option 2: INR 200
Option 3: INR 100
Option 4: INR 500
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 4: INR 360
Question : A sum of Rs. 500 becomes Rs. 580 at simple interest in 2 years. In how many years will the sum of Rs. 650 amounts to Rs. 858 at the same rate of simple interest?
Option 1: 4 years
Option 2: 8 years
Option 3: 5 years
Option 4: 6 years
Question : The simple interest on a certain sum of money for 2 years at 7% per annum is double the compound interest on INR 1,000 for 2 years at 10% per annum, compounded annually. What is the sum placed on simple interest?
Option 1: INR 1,000
Option 2: INR 2,000
Option 3: INR 3,000
Option 4: INR 4,000
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