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    Question

    Rs. x is invested at simple interest at 8% per annum

    for 3 years. If instead Rs. (x + 500) is invested at the same rate for the same period, the total interest received from both deposits is Rs. 1320. Find the value of x.
    A 1750 Correct Answer Incorrect Answer
    B 1620 Correct Answer Incorrect Answer
    C 2500 Correct Answer Incorrect Answer
    D 1000 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, SI = PNR/100 SI = x * 8 * 3/100 SI = 0.24x SI = (x + 500) * 8 * 3/100 SI = 0.24x + 120 (0.24x + 0.24x + 120) = 1320 0.48x = 1320 - 120 0.48x = 1200 x = 1200 / 0.48 x = 2500

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