Question 80

A sum of money invested for 4 years and 9 months at a rate of 8% simple interest per annum became ₹ 1,035 at the end 0 of the period. What was the sum that was initially invested?

Solution

Let P be the Principal.

AMount = 1035

We know,

$$SI = \frac{PRT}{100}$$

$$ I = \frac{(1035-P)\times \frac{19}{4}\times 8}{100}$$

$$50I+19I = 1035\times 19$$

$$I = 285$$

Principal $$= 1035-285 = 750$$

Option D is correct.

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