a) Rs. 240
b) Rs. 245
c) Rs. 220
d) Rs. 250
Answer: a
Explanation:
$$\eqalign{
& {\text{Rate = 5% }} \cr
& {\text{Time = 3 years}} \cr
& {\text{Compound Interest Rs. 252}}{\text{.20}} \cr
& {\text{Effective rate% of CI for 3 years}} \cr
& {\text{ = 15}}{\text{.7625% }} \cr
& {\text{Effective rate% of SI for 3 years}} \cr
& {\text{ = 5}} \times {\text{3 = 15% }} \cr
& {\text{Required SI }} \cr
& {\text{ = }}\frac{{252.20}}{{15.7625}} \times 15 \cr
& = 240 \cr} $$
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