The sum which amount to ₹ 364.80 in 8 yr at 3.5%

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The sum which amount to ₹ 364.80 in 8 yr at 3.5% simple interest per annum is

1. ₹ 285
2. ₹ 280
3. ₹ 275
4. ₹ 270

Correct Option: A

Given, t = 8 yr, r = 3.5%, A = ₹ 364.80
Let amount = ₹ P
Since, A =P [1 + (RT/100)]
∴ 364.80 = P[1 + (3.5 x 8)/100]
⇒ 364.80 = P[ 1+ (35 x 8)/100]
⇒ 3648/10 = P x (128/100)
⇒ P = 3648/128
= ₹ 285