Question
Download Solution PDFPerson A invested Rs. x for 5 years at the rate of interest 14% per annum and she obtained an interest of Rs. 1540. Find the difference between the principal amount and interest earned by him.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFSolution:
Principal amount invested = Rs.x
Number of years = 5
Rate of interest = 14%
Simple interest = Rs. 1540
To find the value of x
1540 = (x × 5 × 14)/100
(1540 × 10)/7 = x
x = 2200
Required difference = 2200 - 1540 = Rs. 660
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