15
John went to the bank to withdraw money on behalf
of his uncle who was in hospital. When he reached
the bank, he

15
John went to the bank to withdraw money on behalf
of his uncle who was in hospital. When he reached
the bank, he learned that based on the principal
amount his uncle had deposited, the difference
between the compound interest and simple interest
would be Rs. 320 The bankers told John that the rate
of interest was 25%. What was the principal amount
John’s uncle had deposited in the bank?
Rs. 1525.50
Rs. 1545.78
Rs. 1550
Rs. 1575.38​