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Two equal sums were lent, one at the rate of 11% per annum for five years and the other at the rate of 8% per annum for six years, both under simple interest. If the difference in interest accrued in the two cases is Rs 1008. Find the sum?

Correct Answer: Rs. 14,400

Explanation:

Let the required Sum = Rs.S


 From the given data,


 1008 = [(S x 11 x 5)/100] - [(S x 8 x 6)/100]


 => S = Rs. 14,400.


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