Question

What sum of money lent out at 5% for 5 years will produce the same interest as rupees 1000 lent out at 4% for 5 years. *
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Answer 1

Answer:

⇒ S.I. for 2 years = Rs. 720.

⇒ S.I. for 7 years = Rs. 1020

∴ S.I. for 5 years = Rs. 1020− Rs. 720= Rs. 300.

⇒ S.I. for 2 years =

5

300

×2=Rs.120

⇒ Principal=720−120=Rs.600

∴ The sum is Rs.600.

Answer 2

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The sum of Rs 600