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 - <p>3100 at 4%</p>
Option 2 - <p>3175 at 2%</p>
Option 3 - <p>3130 at 6%</p>
Option 4 - <p>3125 at 4%</p>
2 Views|Posted 7 months ago
Asked by Shiksha User
1 Answer
V
7 months 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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