A sum at simple interest of 131/2% per annum amounts to

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A sum at simple interest of 13¹/₂% per annum amounts to ₹ 3080 in 4 yr Find the sum.

1. ₹ 1550
2. ₹ 1680
3. ₹ 2000
4. ₹ 1850
5. None of the above

Correct Option: C

Let sum = P
Then, SI = (P x R x T)/100
= {P x (27/2) x 4} / 100
= {P x 54} / 100 = 27P / 50
∴ Amount = P + 27P / 50 = 77P/50
According to the question 77P/50 = 3080
∴ P = (3080 x 50)/77 = ₹ 2000