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A certain sum on 1312%13\frac{1}{2}\% per annum simple interest amounts to Rs. 2502.50 in 4 years. Find the sum.

Solution

Correct Option: 2

Amount = P + SI = P(1 + RT/100).

2502.50=P(1+13.5×4/100)=P(1+0.54)=1.54P2502.50 = P(1 + 13.5 \times 4/100) = P(1 + 0.54) = 1.54P.

P=2502.50/1.54=1625P = 2502.50/1.54 = 1625.

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