Simple interest
1) The interest on a sum in 8 years at the interest of 5% per annum is the same as the interest on Rs.500 for 4 years at the rate of 8% per annum. Find the sum.
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Step-by-step explanation:
Interest for ₹500= PTR/ 100
= 500*4*8/100= ₹160
Interests for both sums are same
Interest = PTR/100
160= P*8*5/100
160*100= P*8*5
160*100= P*40
160*100/40= P
₹400= P
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