A certain sum of money amounted to rs. 765 at 8% in a certain time. In the same time rs. 640 amounted rs. 750 at 5% per annum simple interest. Find the sum
Pranav Sarma
CA Inter
★ 3K+
16-Apr-20 12:07
604
Answers (5)
I think 408
Lucky Garg
CA Foundation
★ 2K+
17-Apr-20 14:45
(P x T x 0.08)+ P = 765 i.e P ( 1+ T x 0.08) = 765 - Eq 1
(640 x T x 0.05) + 640 = 750 - Eq 2
From Eq 2 T = 3.4375 months
Substituting T in Eq 1
P ( 1+ T x 0.08) = 765
P ( 1+ 3.4375 x 0 .08) = 765
P(1 +0 .275) = 765
P = 600