The sum which amounts to RS. 364.80 in 8 yr at 3.5% simple interest per annum is

A) RS.285

B) RS.280

C) RS.275

D) RS.270

Correct answer:
A) RS.285

Description for Correct answer:

Given, t = 8 yr, r= 3.5%, A=Rs.364.80

Let amount = RS. P

Since, A = \( \Large P \times \left(1+\frac{RT}{100}\right) \)

364.80 = P\( \Large  \left( 1+ \times \left(\frac{3.5 \times 8}{100}\right) \right) \)

=> 364.80 = P\( \Large  \left( 1+ \left(\frac{35\times 8}{1000}\right) \right) \)

=> \( \Large \frac{3648}{10} = P\left(\frac{128}{100}\right) \)

=> P=\( \Large \frac{3648}{128} \)=RS.285



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