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Find the sum of money will amount to Rs 900 in 4 years at 5 % per annum on simple interest?

Rs 750
Rs 650
Rs 500
Rs 550

Correct Answer: Rs 750

Explanation:

Let the sum of money be Rs y
So Amount = y +[( y x 5 x 4 )/100]
But Amount = Rs 900
⇒ 900 = y +(20y)/100
⇒ 900 = 6y / 5
⇒ y = ( 900 x 5) /6
= Rs 750

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