Q. A sum of money becomes ₹2420 in 2 years at 10% simple interest. The principal is
✅ Correct Answer: (C)
₹2200
Explanation: Amount = P × (1 + 20/100) = 1.2P. Therefore, P = 2420/1.2 = ₹2200.
Explanation by: Roshan
Amount = P × (1 + 20/100) = 1.2P. Therefore, P = 2420/1.2 = ₹2200.