Mathematics · Simple Interest
A certain sum is invested at a certain rate of simple interest per annum. The total amount after five and eight years is Rs. 1,420 and Rs. 1,660, respectively. What was the amount of the initial investment?
- 1Rs. 1,260
- 2Rs. 1,100
- 3Rs. 1,020✓
- 4Rs. 1,000
Correct answer
Rs. 1,020
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