A certain sum P when invested for four years at the rate of 10% p.a. simple interest, amounts to 22,960/. What will be the interest earned when (P + 600) is invested in the same rate of simple interest p.a. for four years ?
Amount under simple interest = $$\frac{P \times R \times T}{100} + P$$
Given : $$\frac{P \times 10 \times 4}{100} + P = 22,960$$
=> $$\frac{2P}{5} + P = 22,960$$
=> $$\frac{7P}{5} = 22,960$$
=> $$P = \frac{22,960 \times 5}{7} = 16,400$$
Now, new amount invested = $$16,400 + 600 = 17,000$$
$$\therefore$$ S.I. = $$\frac{17,000 \times 10 \times 4}{100}$$
= $$170 \times 40$$ = Rs. $$6,800$$
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