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Q.

The simple interest on a certain sum at 5% per annum for 3 years and 4 years differs by Rs. 82. Find the sum.

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a

Rs 2050

b

Rs 1640

c

Rs 950

d

Rs 1450

answer is B.

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Detailed Solution

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We have, 

Simple Interest gained from 3rd to 4th year = Rs 82
Time (4th year – 3rd year) = 1 year

Rate = 5% p.a.

Using the formula : SI=P×R×T100, we can calculate the principal amount

The principal amount is given as

P = SI × 100R × T

P= 82 × 1005 × 1 = Rs 1640 

Required sum =Rs 1640

Hence, the correct answer is Rs 1640.

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