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A certain sum of money invested at CI becomes Rs 3380 in 2 years & Rs 3515.20 in 3 years. What is the sum invested & what is rate % per annum?

Option 1 -

3100 at 4%

Option 2 -

3175 at 2%

Option 3 -

3130 at 6%

Option 4 -

3125 at 4%

0 1 View | Posted a month ago
Asked by Shiksha User

  • 1 Answer

  • V

    Answered by

    Vishal Baghel | Contributor-Level 10

    a month ago
    Correct Option - 4


    Detailed Solution:

    (d):3515.2 – 3380 = 135.2 = SI on Rs. 3380 for one year.

    By SI formula, 135.2 = 3 3 8 0 * R * 1 1 0 0  or R = 4 %

    Now we have 3380 = P (1.04)2 or P = Rs. 3125

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