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Annie invested a certain sum of money in a bank that paid simple interest. The amount grew to Tk 240 at the end of 2 years. she waited for a another 3 years and got a final amount of Tk 300. What was the principal amount that she invested at the beginning?

Annie invested a certain sum of money in a bank that paid simple interest. The amount grew to Tk 240 at the end of 2 years. she waited for a another 3 years and got a final amount of Tk 300. What was the principal amount that she invested at the beginning? Correct Answer 200

amount + interest of 2 years = 240 " + " " 5 " = 300 So only interest of 3 years = 300 - 240 = 60 So " " " 1 " = 603 = 20 So " " " 2 " = 20×2 = 40 So amount = 240 - 40 = 200 Tk.

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