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A sum of money at simple interest amounts to Rs.7395 in 3 years and to Rs.8160 in 4 years. Find the sum. (In Rs.)
Question

A sum of money at simple interest amounts to Rs.7395 in 3 years and to Rs.8160 in 4 years. Find the sum. (In Rs.)

A.

5000

B.

5100

C.

5300

D.

5200

Correct option is B

Amount after 3 years = 7395
Amount after 4 years = 8160

Simple Interest for 1 year
= 8160 − 7395
= 765

Principal = Amount after 3 years − 3 years interest
= 7395 − (3 × 765)
= 7395 − 2295
= 5100

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