Given:
The sum of money amounts to Rs. 1250 in 3 years and Rs. 1600 in 8 years.
Formula Used:
Amount = Principal (Sum) + Interest
Solution:
Time = 8 - 3= 5 years
Interest in 5 years = (1600 - 1250) = 350
=> Interest in 1 year = = Rs. 70
=> Interest in 3 years = (3 × 70) = Rs. 210
Required sum = 1250 - 210 = 1040
∴ The sum is Rs. 1040.
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