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    Question

    Anurag invested a certain amount at an annual simple

    interest rate of 32% for the benefit of their child, who was 13 years old at the time. If the total amount received when the child turned 24 years old was Rs. 4520, what was the principal sum initially invested by the Anurag?
    A Rs.1000 Correct Answer Incorrect Answer
    B Rs.1200 Correct Answer Incorrect Answer
    C Rs.1030 Correct Answer Incorrect Answer
    D Rs.1004 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Let the sum invested by the Anurag be Rs.'a' According to the question, {(a × 32 × 11)/100} + a = 4520 Or, a = (4520/4.52) = Rs. 1000

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