[Rs.600] Murali deposited a certain sum of money at S.I, which amounts to Rs. 720 after 2 years and to Rs. 10

For Competitive Exams

Murali deposited a certain sum of money at S.I, which amounts to Rs. 720 after 2 years and to Rs. 1020 after a further period of 5 years. What is the money deposited by murali ?

Rs.600

Rs.300

Rs.250

Rs.800

Explanation:

We can observer here that the amount grew upto Rs.1020 after a further period of 5 years.
This implies that interest is being added to the principal every year for the next 5 years.
So Rs.300 has been added in 5 years.
That is for every year the bank must have added Rs.60 to the account.
Now for the first two years bank has added Rs.120.
So the money deposited by Murali = Rs.720 - 120 = Rs.600

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