A sum of money amounts to Rs 550 when the rate is 4% per annum and the time is 2

Question

A sum of money amounts to Rs 550 when the rate is 4% per annum and the time is 2 years 6 months. What would be the amount if the rate was 4.5% per annum and time 3 years 6 months?

Options:

A . Rs 578.25

B . Rs 758.25

C . Rs 857.25

D . Rs 785.25

Answer: Option A

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