A certain sum amounts to Rs. 7344 in 2 years based on simple interest and to Rs. 8316 in 3 years. Find the sum.

Correct option is B

Given:

1. The amount in 2 years = Rs. 7344.

2. The amount in 3 years = Rs. 8316.

3. Simple Interest (SI) formula:

SI = $$Principal \times Rate \times Time$$​​

Formula Used:

1. Difference in Simple Interest for 1 year:

SI for 1 year = Amount in 3 years - Amount in 2 years

2. Principal Calculation:

SI for 2 years = 2 \times SI for 1 year

Principal = Amount in 2 years - SI for 2 years

Solution:

1. Calculate Simple Interest for 1 year:

SI for 1 year = 8316 - 7344 = 972

2. Calculate Simple Interest for 2 years:

SI for 2 years = $$2 \times 972$$​ = 1944

3. Calculate the Principal:

Principal = 7344 - 1944 = 5400

Final Answer:

The sum (Principal) is Rs. 5400