Two equal sums of money were lent at simple interest at 10% per annum for 4 yr and 5 yr, respectively. If the difference in interest for two period was ₹ 220, then each sum is?

₹ 880
₹ 1100
₹ 2200
₹ 1640

Correct Answer: ₹ 2200

Explanation:

Let each sum be ₹ P then,
(P x 10 x 5)/100 - (P x 10 x 4)/100 = 220
⇒ P/10 = 220
∴ P = 2200
Hence, each sum is ₹ 2200.

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