Question : The simple interest on a sum of money in 6 years at the rate of 15% per annum is INR 1,440 less than the simple interest accrued on the same sum in 9 years at 18% per annum. What is the sum of money (in INR)?
Option 1: 1800
Option 2: 2000
Option 3: 2700
Option 4: 2400
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Correct Answer: 2000
Solution :
Let the principal be
Simple interest
1st
And, Simple interest
2nd
According to the question,
Simple interest
1st
= Simple interest
2nd
– 1440
⇒
⇒
⇒
⇒
Hence, the correct answer is 2000.
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