A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is?

One Answer on this Question

1. Simple interest Formula:
   A=P(1+rt)
   Therefore,
   815=P(1+3r)
   P+3r=815

   854=P(1+4r)
   P+4r=854
   Solve the sums using Elimination method.
   P+4r=854
   P+3r=815
   r=39.
   Toget Principal
   P+4r=854
   P+4*39=854
   P=854-117
   P=698

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