Question 81

The simple interest on a certain sum at the rate of 4% per annum in 4 years is Rs. 80 more than the simple interest on the same sum at 5% per annum after 3 years. The sum is

Solution

Let the principal be P

SI = P xT x R/100

difference = P x 4 x 4 /100 - P x 5 x 3/100

= 16P/100 - 15P/100 = 80

P = 8000 Rs.

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