Question
The simple interest on an amount of Rs. x at an annual
rate of 4% for 3 years is Rs. 120 less than the simple interest on an amount of Rs. (x – 800) at an annual rate of 8% for 2 years. Determine the value of x.Solution
According to the question, x × 4% × 3 + 120 = (x – 800) × 8% × 2 0.12x + 120 = 0.16x – 128 128 + 120 = 0.16x – 0.12x 0.04x = 248 x = 6200
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