Discussion
A certain sum of money at simple interest amounted Rs.840 in 10 years at 3% per annum, find the sum?
Answer: D
\[ \text{SI} = \frac{P \times R \times T}{100} \]
\[ 840 = P\left(1 + \frac{3 \times 10}{100}\right) = 1.3P \]
\[ P = \frac{840}{1.3} = \text{Rs. } 646.15 \]
That value appears nowhere on the list, so the answer is none. The Rs. 525 offered would amount to only Rs. 682.50 over the same ten years.
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