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A sum of money at simple interest amounts to Rs.1222 in 3 years and to Rs.1316 in 4 years than the sum is ?
Rs.1050
Rs.1100
Rs.860
Rs.1080
Rs.940
Rs.1050
Rs.1100
Rs.860
Rs.1080
Rs.940
Solution
SI for 1 year = SI for 4 years − SI for 3 years
= 1316 − 1222 = Rs.94
SI for 3 years = 3 × 94 = Rs.282
Principal = Amount − Interest
Principal = 1222 − 282 = Rs.940
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Solution
Keynote
Amount = Principal + Simple Interest
Simple Interest for 1 year is
= (Amount obtained for n years) − (Amount obtained for n − 1 years)
SI for 1 year = (SI for n years) − (SI for n − 1 years)
SI for n years = n × SI for 1 year
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