Question
Download Solution PDFAt 8% simple interest per annum a sum of money becomes Rs. 608 in \(3\frac{1}{2}\) years. What was the sum invested?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
At 8% simple interest per annum a sum of money becomes Rs. 608 in \(3\frac{1}{2}\) i.e. 3.5 years.
Concept used:
Simple Interest, SI = (P × R × T)/100
Amount = P + SI
where
P = Principal amount
R = Rate of interest per year
T = Time in years
Calculation:
Let the sum invested be Rs. P.
According to the question,
P + (P × 8 × 3.5)/100 = 608
⇒ P + 0.28P = 608
⇒ 1.28P = 608
⇒ P = 608/1.28
⇒ P = 475
∴ The sum invested is Rs. 475.
Last updated on Jun 26, 2025
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