Discussion
What sum as given below will become ₹ 11,780 in 3 years at 8% p.a. simple interest ?
Answer: C
The sum is ₹ 9500.
At 8% simple interest for 3 years, the interest is 24% of the principal, so the amount is 1.24 times it:
\[ \begin{aligned} 1.24P &= 11780 \\ P &= 9500 \end{aligned} \]
Check: 24% of ₹ 9,500 is ₹ 2,280, and 9,500 + 2,280 = 11,780. The other options give amounts of ₹ 10,540, ₹ 11,160 and ₹ 11,904.
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