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Pankaj Chaudhary
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Asked: 2024-09-05T14:04:44+00:00 In:

500 was invested at 12% per annum simple interest and a certain sum of money invested at 10% per annum simple interest. If the sum of the interest on both the sum after 4 years is 480, the latter sum of money is ?

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(A) 450
(B) 750
(C) 600
(D) 550
500 was invested at 12% per annum simple interest and a certain sum of money invested at 10% per annum simple interest. If the sum of the interest on both the sum after 4 years is 480, the latter sum of money is ?

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1 Answer

  1. Pankaj Chaudhary
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    Correct answer: (C) 600
    Explanation:

    Interest on ₹500 at 12% per annum for 4 years = 500×12×4100=240\frac{500 \times 12 \times 4}{100} = 240100500×12×4​=240.
    Let the latter sum be ₹x.
    Interest on ₹x at 10% per annum for 4 years = x×10×4100=0.4x\frac{x \times 10 \times 4}{100} = 0.4x100x×10×4​=0.4x.
    According to the question:
    240 + 0.4x = 480
    0.4x = 240
    x = 600.

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