500 rupees was invested as 12% per annum simple interest on 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 rupees 480 then the letter sum of money is
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Simple interest gained from Rs. 500 = 500×12×4/100
Let the other principal be x.
S.I. gained = Rs. (480 – 240) = Rs. 240
since,
4X×10/100=240
=X=240×100/40
=600
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