Question
A sum of money placed at simple interest becomes Rs. 14,400
in 4 years and Rs. 18,000 in 7 years. What is the initial amount invested?Solution
ATQ,
Interest earned in 3 years = 18,000 - 14,400 = Rs. 3,600
Interest earned in 4 years = (3,600 / 3) × 4 = Rs. 4,800
So, amount invested = 14,400 - 4,800 = Rs. 9,600
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