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In 219 days, a sum becomes Rs 3605 at 5% per annum. What would have been the sum?

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Rs 3250

Rs 3500

Rs 3400

Rs 3550

answer is B.

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Detailed Solution

We are given that amount = Rs 3605, R = 5% and T = 219 days.
The formula for simple interest,

S . I = P × R × T 100

,
Where, S.I is simple interest. P=principal. R=rate percent. T=time.
The formula for amount,
Amount

= Sum + S .I .

Converting the given time into years,
365 days=1 year.
219 days will be,

⇒ 219365 years

Let the principal be Rs P.
Apply formula,

S . I = P × R × T 100

⇒ S . I = P × 5 × 219 100 × 365 = 219 P 7300

Now finding the sum as,
Amount

= Sum + S .I .

⇒ 3605 = P + 219 P 7300 ⇒ 3605 = 7300 P + 219 P 7300 ⇒ 3605 = 7519 P 7300 ⇒ P = 3605 × 7300 7519

Simplifying further,

S . I = P × R × T 100

Therefore, the correct option is 2.

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