A sum fetched a total simple interest of Rs. 256 at the rate of 5% p.a. in 5 years. What is the sum?

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15 Sep 2017 Simple Interest

A sum fetched a total simple interest of Rs. 256 at the rate of 5% p.a. in 5 years. What is the sum?

OPtion

1) Rs 1000
2) Rs 1024
3) Rs 1020
4) Rs 1010
5) Rs 1016
6) Rs 1100
7) Rs 1030
8) Rs 1050
9) Rs 1036
10) None of these

Solution

SI = PRT/100
P= SI*100/RT = 256*100/5*5 = 256*4 = 1024
Option 2)

Correct Option: 2 Best Solution (0)