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The difference between the interests earned when Rs. P is invested for four years in a scheme offering 9% p.a. Simple interest and when the same sum (Rs P) is invested for two years in another scheme offering 12% p.a. simple interest, is Rs 480. What is the value of P?

Correct Answer: 4000

Explanation:

p=(p*4*9)/100-(p*2*12)/100 = 480


=12p/100=480


p=4000


 


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