Keya deposited rupees 2000 in a bank and earned an interest of rupees 160 over a period of time. To get rupees 480 as interest for the same period how much money does she need to deposit in the bank.
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The amount of money she needs to deposit is equal to Rs. 6000.
Initial amount deposited by keya = Rs. 2000
Rate of interest = r%
Time period = t
Interest earned by keya = Rs. 160
=> (2000 × r × t)/100 = 160
=> rt = 8
When interest earned is Rs. 480 , let the amount deposited by keya be equal to Rs. x.
=> 480 = (x × r × t)/100
=> 48000/8 = x
=> x = Rs. 6000
The amount of money deposited by keya to earn a interest of Rs. 480 is equal to Rs. 6000.
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