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Question

If the simple interest on a certain sum of money for 15 months at 712% per annum exceed the simple interest on the same sum for 8 months at 1212% per annum by Rs. 32.50, then find the sum of money (in Rs.).

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Solution

Let the sum be x.

Using formula,
I=PRT100=x×1512×152100x×812×252100=32.50

25x2400=32.50

x=32.50×240025=3120

Required sum =Rs.3120

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