Correct Answer - Option 1 : Rs. 11000
Given:
Rate = 3% per annum
Difference in simple interest = Rs. 330
Formula used:
Principal = (Simple interest × 100)/(rate × time)
Calculation:
Difference of simple interest is 1 year. Therefore, time will be 1 year
Simple interest for 4 years – simple interest for 3 years = Rs. 330
⇒ Simple interest for 1 year = Rs. 330
Principal = (330 × 100)/(3 × 1)
⇒ Rs. 11,000
∴ The sum is Rs. 11,000.
