Question
If simple interest on a certain sum of money for 8 years at 4% per annum is same as the simple interest on Rs. 560 for 8 years at the rate of 12% per annum then the sum of money is
If simple interest on a certain sum of money for 8 years at 4% per annum is same as the simple interest on Rs. 560 for 8 years at the rate of 12% per annum then the sum of money is
Answer: Option D
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Answer : Option D
Explanation :
Let the sum of money be x
then
$MF#%\begin{align}&\dfrac{x \times 4 \times 8}{100 } = \dfrac{560 \times 12 \times 8}{100 }\\\\ &x \times 4 \times 8 = 560 \times 12 \times 8\\\\ &x \times 4 = 560 \times 12\\\\ &x = 560 \times 3 = 1680\end{align}$MF#%
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