The simple interest on a certain sum of money at 4% p.a. for 4 years is Rs 19 more than interest on the same sum for 3 years at 5% p.a. Find the sum of money?
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Answer: 94,736. 84
Step-by-step explanation:
Principal = P
Simple interest = P * 4/100 * 4 years = 0.16 P
Compound interest = P * (1 + 5/100)³ = 1.157625 P - P = 0.157625 P
Given, 0.16 P - 0.157625 P = Rs 225
P = Rs 94,736. 84
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