A sum at simple interest of 13 1/ 2% per annum amounts to ₹ 3080 in 4 yr Find the sum.
Correct Answer: ₹ 2000
Explanation:
Let sum = P
Then, SI = (P x R x T)/100
= {P x (27/2) x 4} / 100
= {P x 54} / 100 = 27P / 50
∴ Amount = P + 27P / 50 = 77P/50
According to the question 77P/50 = 3080
∴ P = (3080 x 50)/77 = ₹ 2000
