Question
If simple interest on a certain sum of money for 4 years at 5% per annum is same as the simple interest on Rs. 560 for 10 years at the rate of 4% per annum then the sum of money is:
Answer: Option B
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Let the required sum of money be Rs. X.
Here R1 = 5%, T1 = 4 years, R2 = 4%, T2 = 10 years.
X x 4 x 5
=
560 x 4 x 10
100
100
or, X = Rs. 1120.
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