A sum amounts to Rs 1065 at simple interest rate of 7.5% per annum after 3 years. Find the sum.
(A)
878.40
(B)
869.38
(C)
869.28
(D)
783.20
Answer: (B)
Explanation:
Let the required sum be x. Then,
Simple interest = (x × 3 × 7.5 /100) = Rs 22.5x/100.
Amount = (x + 22.5x/100) = Rs 122.5x/100.
Therefore, 122.5x/100 = 1065 ⇒ 122.5x = 1065 × 100 ⇒ x = 106500/122.5 ⇒ x = 869.38
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