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Question 69
A sum of money at simple interest amounts to ₹ 400 in 4 years and ₹ 420 in 5 years. What is the sum?
Solution
Given, Amount for 4 years = Rs.400
Amount for 5 years = Rs.420
Then, Simple Interest for 1 year = 420-400 = Rs.20
Simple Interest for 4 years = Rs.20*4 = Rs.80
Then, Principal = Rs.400-Rs.80 = Rs.320
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