Rs.500 was invested at 12% per annum simple interest and another certain sum of money invested at 10% per annum simple interest. If the total interest on both the sum after 4 years is Rs. 480, the latter sum of money is :

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Asked: January 1, 20222022-01-01T12:05:04+05:30 2022-01-01T12:05:04+05:30Category: Number Puzzles

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Mighty Ashish · Answer 1 · 2022-01-01T12:05:38+05:30

Explanation:

Let the latter amount = Rs. x

According to the question,

500×12×4\100+x×10×4\100=480

240+4x\10=480

4x\100=240

x=600

Hence latter amount = Rs. 600