Discussion :: Simple Interest
- The equal amounts of money are deposited in two banks each at 15% per annum for 3.5 years and 5 years respectively. If the difference between their interests is Rs.144, find the each sum?
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Answer : Option B
Explanation :
(P*5*15)/100 - (P*3.5*15)/100 = 144
75P/100 “ 52.5P/100 = 144
22.5P = 144 * 100
=> P = Rs.640
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