A sum is invested at compounded interest payable annually. The interest in two

Question

A sum is invested at compounded interest payable annually. The interest in two successive years was Rs. 500 and Rs. 540. The sum is

Answer: Option D
- S.I. on Rs. 500 for 1 year = 540 - 500 = Rs. 40 Rate = 100 x 40 = 8% 500 x 1 and Sum = Rs. 100 x 500 8 x 1 = Rs. 6250

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