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Question

The simple interest on a sum of money for 5 years at 7% p.a. is ?800more than the simple interest on the same sum of three years at 9%per annum. Find the original sum of money.

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Solution



Dear Student,

Let P be the original amount or principal.We know, Simple Interest (SI) = P×R×T100Case 1:Rate of interest, R1 = 7% pa.aTime , T1 = 5 yearsSI1 = P×R1×T1100 = P×7×5100 = 35P100Case 2:Rate of interest, R2 = 9% p.aTime , T2 = 3 yearsSI2 = P×R2×T2100 = P×9×3100 = 27P100According to the question:SI1 = SI2 + 80035P100 = 27P100 + 80035P100 - 27P100 = 8008P100 = 800 P = 800×1008 P = Rs. 10000So, the original sum of money = Rs. 10000

Regards

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