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Simple interest

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  1. A sum of money at simple interest amounts to Rs. 2240 in 2 years and Rs. 2600 in 5 years. The sum is ?
    1. Rs. 1880
    2. Rs. 2000
    3. Rs. 2120
    4. Data inadequate
Correct Option: B

S.I for 3 years = Rs. (2600 - 2240) = Rs . 360
S.I for 2 years = Rs. (360/3 x 2) = Rs. 240
∴ Required sum = Rs . (2240 - 240) = Rs. 2000


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