A Certain sum of money an amounts to Rs 2500 in a span Of 5 years and further to Rs.3000 in a span of 7 years at simple interest The sum is ?
Correct Answer: Rs. 1250
Explanation:
2500 in 5th year and 3000 in 7th year
So in between 2 years Rs. 500 is increased => for a year 500/2 = 250
So, per year it is increasing Rs.250 then in 5 years => 250 x 5 = 1250
Hence, the initial amount must be 2500 - 1250 = Rs. 1250