Sum
The interest on a certain sum of money is Rs. 1,480 in 2 years and at 10 percent per year. Find the sum of money.
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Solution
Let P = Rs. x
Time (T) = 2 years
Rate (R) = 10%
∴ Interest =`("P"xx"T"xx"R")/100=("x"xx10xx2)/100="x"/5`
`"x"/5`= Rs. 14810 ....(Given)
∴ x = 1480 × 5 = Rs. 7400
Hence the money Rs. 7400
Concept: To Find the Principle (P); the Rate Percent (R) and the Time
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