A sum amounts to Rs 2565.4 at the rate of 9 %.p.a. in 3 years. What is the sum?

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09 Mar 2020 Simple Interest

A sum amounts to Rs 2565.4
at the rate of 9 %.p.a. in 3 years. What is the sum?

OPtion

1) 9501.48
2) 1940.00
3) 1980.00
4) 1960.00
5) 2010.00
6) 2002.00
7) 2020.00
8) 2030.00
9) 2060.00
10) None of these

Solution

A = P (1+ RT/100 )
2565.4 = A (1 + 3*9/100)
=> 2565.4 = A (127/100)
=> 2020

Correct Option: 7 Best Solution (4)