A sum of money lent out at simple interest amounts to Rs 720 after 2 years and to Rs 1020 after a further period of 5 years. What is the sum?

Simple interest for 2 years = Rs. 720.

Simple interest for 7 years = Rs. 1020

Simple interest for 5 years = Rs. 1020 – Rs. 720 = Rs. 300.

⇒  Simple interest for 2 years = (300 / 5) * 2 = Rs. 120

⇒  Principal = 720 – 120 = Rs. 600

∴  The sum is Rs.600.

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