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Question 1 : Present sum of money amounts to Rs 800 in two years and to Rs 920 in three years, then the present sum of money is
Now = x
At the end of 2nd year = Rs 800
At the end of 3rd year = Rs 920
So, Interest gained in one year = 120
In two years Rs 240 was gained.
So, Present money = 800 - 240 = Rs 560
The question is " Present sum of money amounts to Rs 800 in two years and to Rs 920 in three years, then the present sum of money is "
Choice C is the correct answer.
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