Question 45

At 8% simple interest per annum a sum of money becomes ₹ 608 in $$ 3 \frac{1}{2} $$ years. What was the sum invested?

Solution

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I=PTR/100
I=P*(7/2)*8/100
I=7P/25
P+I=608
32P/25 =608
P=19*25
P=475

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