Question

A sum of money at simple interest amounts to rs. 800 in 3 years and to rs. 900 in 4 years. the sum is:

A) 600
B) 1000
C) 400
D) 500

Answer 1

The sum of money is approximately Rs. 695.65, which is closest to option A) 600.

Step-by-step explanation:

To solve this problem, we can set up a system of equations. Let the sum of money be x. From the given information, we have:

x + 3(0.05x) = 800

x + 4(0.05x) = 900

Simplifying these equations, we get:

1.15x = 800

1.20x = 900

Dividing both sides of the equations by the respective coefficients, we find:

x = 800/1.15 = 695.65

x = 900/1.20 = 750

So, the sum of money is approximately Rs. 695.65, which is closest to option A) 600.